Bray Capital Advisors Takes Position in Snowflake Inc. (NYSE:SNOW)

Bray Capital Advisors bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance grew its holdings in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new stake in Snowflake in the fourth quarter worth approximately $5,851,000. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

NYSE SNOW opened at $185.35 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $235.66. The stock’s 50-day moving average is $172.68 and its two-hundred day moving average is $143.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Evercore ISI upped their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Oppenheimer upped their target price on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Needham & Company LLC upped their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho upped their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.08.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 394,345 shares of company stock worth $67,286,835 over the last three months. Corporate insiders own 7.80% of the company’s stock.

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.