GraniteShares Advisors LLC Invests $781,000 in Snowflake Inc. (NYSE:SNOW)

GraniteShares Advisors LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 5,055 shares of the company’s stock, valued at approximately $781,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Allspring Global Investments Holdings LLC raised its stake in Snowflake by 73.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares in the last quarter. Forsta AP Fonden raised its stake in Snowflake by 12.0% in the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $7,294,000 after purchasing an additional 6,800 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Snowflake in the 3rd quarter worth about $231,000. Strategic Wealth Investment Group LLC increased its holdings in Snowflake by 3.1% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 5,904 shares of the company’s stock valued at $651,000 after buying an additional 175 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Snowflake in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 4.0 %

Shares of NYSE SNOW opened at $164.14 on Wednesday. The company has a market capitalization of $54.18 billion, a P/E ratio of -48.42 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $235.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company’s 50 day moving average price is $172.71 and its 200-day moving average price is $144.79.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,789,543.75. The trade was a 22.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,810 shares of company stock worth $63,340,544. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SNOW. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada raised their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Finally, Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $196.19.

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.