Ignite Planners LLC Raises Stake in Snowflake Inc. (NYSE:SNOW)

Ignite Planners LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,797 shares of the company’s stock after purchasing an additional 141 shares during the period. Ignite Planners LLC’s holdings in Snowflake were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNOW. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at about $34,000. Larson Financial Group LLC raised its holdings in shares of Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of several recent analyst reports. Loop Capital raised their price target on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Wedbush cut Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Needham & Company LLC raised their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.69.

Snowflake Trading Up 0.6 %

SNOW opened at $163.40 on Wednesday. The business has a 50 day moving average of $158.33 and a 200-day moving average of $134.37. The stock has a market cap of $53.94 billion, a PE ratio of -48.20 and a beta of 1.05. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate 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.