By otakuyassine3@gmail.com 
First Horizon Advisors Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 621 shares of the company’s stock after acquiring an additional 108 shares during the quarter. First Horizon Advisors Inc.’s holdings in Snowflake were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Variant Private Wealth LLC bought a new position in Snowflake during the 4th quarter worth approximately $836,000. Outfitter Financial LLC increased its position in shares of Snowflake by 3.2% during the fourth quarter. Outfitter Financial LLC now owns 6,365 shares of the company’s stock worth $983,000 after buying an additional 200 shares during the period. Bray Capital Advisors acquired a new position in Snowflake in the fourth quarter valued at $926,000. Prakash Investment Advisors LLC acquired a new position in Snowflake in the fourth quarter valued at $480,000. Finally, Handelsbanken Fonder AB boosted its position in Snowflake by 3.2% during the fourth quarter. Handelsbanken Fonder AB now owns 125,796 shares of the company’s stock valued at $19,424,000 after acquiring an additional 3,923 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.
Snowflake Trading Up 1.2 %
NYSE SNOW opened at $166.20 on Thursday. The business’s fifty day moving average is $172.79 and its 200-day moving average is $144.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $54.86 billion, a price-to-earnings ratio of -49.03 and a beta of 1.07. Snowflake Inc. has a one year low of $107.13 and a one year high of $235.66.
Wall Street Analysts Forecast Growth
SNOW has been the topic of a number of recent analyst reports. TD Cowen boosted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Loop Capital lifted their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Piper Sandler increased their price target on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald started coverage on shares of Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $196.19.
View Our Latest Stock Analysis on SNOW
Insider Buying and Selling
In other Snowflake news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. Insiders own 7.80% of the company’s stock.
Snowflake Profile
Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.
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