Stablepoint Partners LLC Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Stablepoint Partners LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,377 shares of the company’s stock after purchasing an additional 301 shares during the quarter. Stablepoint Partners LLC’s holdings in Snowflake were worth $985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Archford Capital Strategies LLC boosted its position in Snowflake by 20.0% during the 4th quarter. Archford Capital Strategies LLC now owns 3,541 shares of the company’s stock valued at $547,000 after acquiring an additional 590 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Snowflake by 7.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,557 shares of the company’s stock valued at $1,785,000 after purchasing an additional 796 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Brighton Jones LLC grew its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Finally, New Century Financial Group LLC bought a new position in Snowflake in the fourth quarter worth $267,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

NYSE SNOW opened at $174.05 on Monday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. 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 stock’s 50 day moving average is $165.83 and its 200 day moving average is $136.12.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNOW. TD Cowen upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp boosted their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their price target on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $188.06.

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.