Ashton Thomas Securities LLC Grows Stake in Snowflake Inc. (NYSE:SNOW)

Ashton Thomas Securities LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 26,250.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,108 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Snowflake were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter valued at approximately $29,000. Groupama Asset Managment bought a new position in shares of Snowflake during the third quarter valued at $25,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co increased its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.2 %

Shares of NYSE:SNOW opened at $162.86 on Wednesday. The business’s 50 day moving average is $172.75 and its 200 day moving average is $150.63. The stock has a market cap of $53.76 billion, a P/E ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade 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 available through this link. Also, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,968 shares of company stock worth $50,900,550 over the last three months. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Jefferies Financial Group raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Monness Crespi & Hardt upped their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. UBS Group lifted their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $225.00 price target (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $205.08.

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.