Joule Financial LLC Takes $468,000 Position in Snowflake Inc. (NYSE:SNOW)

Joule Financial LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,031 shares of the company’s stock, valued at approximately $468,000.

Several other institutional investors also recently bought and sold shares of SNOW. State Street Corp raised its holdings in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares in the last quarter. Two Sigma Advisers LP boosted its position in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of Snowflake stock opened at $170.89 on Friday. The business has a fifty day simple moving average of $161.11 and a 200-day simple moving average of $135.02. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup reduced their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Loop Capital boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Finally, KeyCorp upped their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is owned by insiders.

Snowflake Company 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.