Gilliland Jeter Wealth Management LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Gilliland Jeter Wealth Management LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 4.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,917 shares of the company’s stock after acquiring an additional 158 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Snowflake were worth $605,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SNOW. Jennison Associates LLC raised its position in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Snowflake by 19,399.2% during 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 period. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. International Assets Investment Management LLC raised its holdings in Snowflake by 12,318.3% in the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after buying an additional 526,608 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Snowflake by 96.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock worth $120,076,000 after buying an additional 513,214 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares in the company, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,933 shares of company stock valued at $88,283,752. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNOW. Bank of America boosted their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Wedbush upgraded shares of Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Mizuho upped their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Finally, KeyCorp upped their price target on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $187.06.

Snowflake Price Performance

Snowflake stock opened at $186.16 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The stock has a market capitalization of $61.45 billion, a P/E ratio of -54.91 and a beta of 1.07. The firm’s 50-day moving average is $170.61 and its two-hundred day moving average is $139.19. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.