Nemes Rush Group LLC Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Nemes Rush Group LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 51.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,143 shares of the company’s stock after purchasing an additional 1,070 shares during the period. Nemes Rush Group LLC’s holdings in Snowflake were worth $485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Snowflake by 12.6% during the fourth quarter. Franklin Resources Inc. now owns 603,994 shares of the company’s stock valued at $93,263,000 after purchasing an additional 67,406 shares in the last quarter. Alliancebernstein L.P. raised its position in Snowflake by 132.1% in the 4th quarter. Alliancebernstein L.P. now owns 282,696 shares of the company’s stock worth $43,651,000 after buying an additional 160,888 shares during the last quarter. Bedell Frazier Investment Counselling LLC bought a new position in Snowflake during the 4th quarter valued at about $249,000. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Snowflake by 34.4% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 16,644 shares of the company’s stock valued at $2,570,000 after acquiring an additional 4,256 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Snowflake by 1,325.2% in the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after acquiring an additional 100,912 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Scotiabank raised their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, Citigroup upped their price target on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.14.

Snowflake Stock Performance

NYSE SNOW opened at $149.56 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50 day simple moving average of $171.02 and a two-hundred day simple moving average of $152.07. The stock has a market capitalization of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were 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 owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by insiders.

Snowflake Company 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.