Dakota Wealth Management Takes Position in Snowflake Inc. (NYSE:SNOW)

Dakota Wealth Management purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,150 shares of the company’s stock, valued at approximately $3,729,000.

A number of other hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank grew its position in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance boosted its stake in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Snowflake during the 4th quarter worth $5,851,000. Franklin Resources Inc. increased its position in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Finally, Westend Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $10,550,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SNOW shares. Evercore ISI boosted their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Jefferies Financial Group raised their price objective on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, DA Davidson restated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Price Performance

Shares of Snowflake stock opened at $177.54 on Thursday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $163.02 and its two-hundred day moving average price is $135.33.

Insider Buying and Selling

In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock worth $62,545,855 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

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.