Choreo LLC Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Choreo LLC raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 37.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,100 shares of the company’s stock after buying an additional 2,497 shares during the period. Choreo LLC’s holdings in Snowflake were worth $1,408,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Snowflake by 24.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,415 shares of the company’s stock valued at $15,644,000 after buying an additional 19,936 shares during the last quarter. Sargent Investment Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $586,000. 1858 Wealth Management LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $279,000. Avitas Wealth Management LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $260,000. Finally, RFG Holdings Inc. grew its position in shares of Snowflake by 20.9% during the 4th quarter. RFG Holdings Inc. now owns 4,458 shares of the company’s stock valued at $688,000 after acquiring an additional 772 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Snowflake stock opened at $183.87 on Friday. 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 $237.72. The firm has a market capitalization of $60.70 billion, a P/E ratio of -54.24 and a beta of 1.07. The company’s 50-day moving average is $170.61 and its 200 day moving average is $139.19.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SNOW shares. Piper Sandler boosted their price objective on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Cantor Fitzgerald started coverage on shares of Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. Evercore ISI boosted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Scotiabank upped their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $187.06.

Insider Buying and Selling

In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock valued at $88,283,752 in the last ninety days. 7.80% of the stock is owned by company 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.