FourThought Financial Partners LLC Buys 4,548 Shares of Snowflake Inc. (NYSE:SNOW)

FourThought Financial Partners LLC boosted its position in Snowflake Inc. (NYSE:SNOW) by 43.9% in the 4th quarter, HoldingsChannel reports. The firm owned 14,903 shares of the company’s stock after acquiring an additional 4,548 shares during the period. FourThought Financial Partners LLC’s holdings in Snowflake were worth $2,301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares during the last quarter. Allworth Financial LP lifted its position in shares of Snowflake by 2,650.2% during the 3rd quarter. Allworth Financial LP now owns 18,674 shares of the company’s stock valued at $2,145,000 after acquiring an additional 17,995 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Snowflake by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,479 shares of the company’s stock valued at $9,168,000 after purchasing an additional 4,634 shares in the last quarter. Forsta AP Fonden raised its position in shares of Snowflake by 12.0% in the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $7,294,000 after buying an additional 6,800 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in Snowflake during the third quarter worth $231,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

SNOW opened at $170.78 on Tuesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66. 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 $56.38 billion, a P/E ratio of -50.38 and a beta of 1.07. The company has a 50 day simple moving average of $172.85 and a two-hundred day simple moving average of $144.51.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNOW shares. TD Cowen increased their price objective 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. UBS Group increased their price objective on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Scotiabank lifted their price objective on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Citigroup decreased their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.43.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock valued at $63,340,544 in the last quarter. 7.80% of the stock is currently owned by insiders.

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.