Snowflake Inc. (NYSE:SNOW) Stake Raised by Asset Dedication LLC

Asset Dedication LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 922 shares of the company’s stock after acquiring an additional 59 shares during the period. Asset Dedication LLC’s holdings in Snowflake were worth $142,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Groupama Asset Managment acquired a new position in shares of Snowflake in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the third quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the third quarter worth approximately $34,000. Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake in the 4th quarter valued at approximately $38,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 1.9 %

Shares of Snowflake stock opened at $179.42 on Friday. 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 52 week low of $107.13 and a 52 week high of $237.72. The stock has a 50 day moving average price of $169.02 and a two-hundred day moving average price of $137.06. The stock has a market capitalization of $59.23 billion, a PE ratio of -52.93 and a beta of 1.05.

Analysts Set New Price Targets

Several analysts have issued reports on SNOW shares. Citigroup cut their target price 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value 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 $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 504,151 shares of company stock valued at $84,973,139. Corporate insiders own 7.80% of the company’s stock.

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.