Edgestream Partners L.P. Takes Position in Snowflake Inc. (NYSE:SNOW)

Edgestream Partners L.P. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 42,242 shares of the company’s stock, valued at approximately $4,852,000.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC raised its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake in the 3rd quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $39,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.6 %

NYSE:SNOW opened at $174.80 on Friday. The stock has a fifty day moving average price of $126.17 and a 200-day moving average price of $128.52. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Activity

In other news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 20,514 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 204,661 shares of company stock worth $32,004,752. 7.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent research reports. Scotiabank dropped their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 22nd. Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Monday, November 25th. Mizuho boosted their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Evercore ISI boosted their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. 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 company. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

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.