Accent Capital Management LLC Buys 6,845 Shares of Snowflake Inc. (NYSE:SNOW)

Accent Capital Management LLC raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 9,126.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,920 shares of the company’s stock after acquiring an additional 6,845 shares during the quarter. Accent Capital Management LLC’s holdings in Snowflake were worth $1,069,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its position in Snowflake by 24.1% in the 3rd 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 shares of Snowflake in the fourth quarter valued at about $288,000. Independent Advisor Alliance lifted its position in Snowflake by 15.5% during 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. grew its holdings in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Snowflake during the 4th quarter worth about $5,851,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $150.60 on Friday. The stock’s 50-day simple moving average is $171.99 and its 200 day simple moving average is $151.02. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. Rosenblatt Securities upped their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Mizuho upped their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. KeyCorp boosted their target price on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and issued a $225.00 price target (up previously from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Finally, Barclays boosted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $205.08.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value 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 $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 603,968 shares of company stock valued at $99,863,550 in the last 90 days. 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.