D.A. Davidson & CO. Boosts Stock Position in Snowflake Inc. (NYSE:SNOW)

D.A. Davidson & CO. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 81.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,648 shares of the company’s stock after purchasing an additional 15,544 shares during the quarter. D.A. Davidson & CO.’s holdings in Snowflake were worth $3,980,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SNOW. Ontario Teachers Pension Plan Board increased its holdings in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after acquiring an additional 660,168 shares during the last quarter. SG Americas Securities LLC boosted its position in Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the period. Daiwa Securities Group Inc. boosted its position in Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after purchasing an additional 526,608 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. TD Cowen boosted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price objective on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Loop Capital reduced their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Stock Up 1.4 %

Shares of Snowflake stock opened at $173.70 on Friday. The stock’s fifty day moving average is $124.88 and its 200-day moving average is $128.64. The firm has a market capitalization of $58.22 billion, a PE ratio of -51.24 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,661 shares of company stock valued at $32,004,752 over the last three months. Company insiders own 7.80% of the company’s stock.

About Snowflake

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.