Snowflake Inc. (NYSE:SNOW) Shares Bought by Ethic Inc.

Ethic Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 17.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,822 shares of the company’s stock after purchasing an additional 3,734 shares during the quarter. Ethic Inc.’s holdings in Snowflake were worth $3,833,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake in the fourth quarter worth $31,000. Quadrant Capital Group LLC increased its position in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Snowflake in the fourth quarter valued at $33,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW opened at $174.14 on Friday. The stock has a market capitalization of $57.48 billion, a P/E ratio of -51.37 and a beta of 1.11. The company’s fifty day moving average is $153.28 and its two-hundred day moving average is $159.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares in the company, valued at $102,186,956.25. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock worth $58,204,058 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SNOW. Truist Financial cut their price target on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Oppenheimer upped their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, KeyCorp lowered their target price on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.28.

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.