Dnca Finance Takes $4.22 Million Position in Snowflake Inc. (NYSE:SNOW)

Dnca Finance bought a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,350 shares of the company’s stock, valued at approximately $4,223,000.

A number of other institutional investors have also recently added to or reduced their stakes in SNOW. Westside Investment Management Inc. boosted its holdings in Snowflake by 47.4% in the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after purchasing an additional 3,971 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock worth $535,000 after buying an additional 1,559 shares in the last quarter. Blankinship & Foster LLC bought a new stake in shares of Snowflake in the third quarter worth $896,000. Synovus Financial Corp increased its stake in shares of Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after buying an additional 1,352 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock worth $82,405,796 in the last quarter. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research note on Thursday, February 20th. Jefferies Financial Group lowered their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $183.00 price target on shares of Snowflake in a research report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Snowflake Price Performance

Shares of SNOW opened at $143.34 on Friday. The stock has a market cap of $47.32 billion, a P/E ratio of -42.28 and a beta of 1.13. The business’s fifty day moving average is $159.07 and its 200 day moving average is $154.35. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

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.