RMR Wealth Builders Acquires New Position in Snowflake Inc. (NYSE:SNOW)

RMR Wealth Builders acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,402 shares of the company’s stock, valued at approximately $216,000.

Other large investors also recently bought and sold shares of the company. Groupama Asset Managment purchased a new stake in shares of Snowflake in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $34,000. Larson Financial Group LLC boosted its position in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after purchasing an additional 152 shares during the period. Finally, Waldron Private Wealth LLC purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $162.65 on Friday. The firm has a 50 day simple moving average of $156.42 and a 200-day simple moving average of $133.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $53.69 billion, a PE ratio of -47.98 and a beta of 1.05. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 over the last 90 days. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNOW. Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $200.00 in a report on Tuesday. KeyCorp increased their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group increased their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Loop Capital increased their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $187.11.

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.