120,000 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 120,000 shares of the company’s stock, valued at approximately $18,529,000. Snowflake comprises about 2.7% of Ardmore Road Asset Management LP’s holdings, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of SNOW. Asset Dedication LLC lifted its holdings in Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares during the period. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after acquiring an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several recent research reports. Jefferies Financial Group dropped their price objective on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Monday. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Thursday, February 20th. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, UBS Group boosted their price target on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.14.

Snowflake Stock Performance

SNOW stock opened at $149.56 on Wednesday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a 50 day moving average of $171.02 and a two-hundred day moving average of $152.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of -44.12 and a beta of 1.07.

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is owned by company 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.