Victrix Investment Advisors Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Victrix Investment Advisors purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,757 shares of the company’s stock, valued at approximately $580,000.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Snowflake in the 4th quarter valued at about $988,950,000. GQG Partners LLC bought a new position in Snowflake during the fourth quarter worth about $750,572,000. Jennison Associates LLC increased its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. FMR LLC increased its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after buying an additional 2,200,406 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.0%

Shares of NYSE SNOW opened at $183.01 on Monday. The company has a 50 day simple moving average of $155.65 and a 200 day simple moving average of $161.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market cap of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Snowflake from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group dropped their price objective on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. UBS Group increased their target price on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Finally, Oppenheimer boosted their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.28.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now directly owns 25,972 shares of the company’s stock, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 in the last ninety days. 7.80% of the stock is currently owned by insiders.

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.