Cladis Investment Advisory LLC Buys 7,085 Shares of Snowflake Inc. (NYSE:SNOW)

Cladis Investment Advisory LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 64.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,015 shares of the company’s stock after purchasing an additional 7,085 shares during the period. Snowflake accounts for 1.4% of Cladis Investment Advisory LLC’s investment portfolio, making the stock its 15th largest holding. Cladis Investment Advisory LLC’s holdings in Snowflake were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SNOW. LRI Investments LLC raised its holdings in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the second quarter valued at about $39,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This trade represents a 8.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,661 shares of company stock worth $32,004,752. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 0.6 %

Shares of Snowflake stock opened at $174.80 on Monday. The company has a 50 day moving average price of $126.17 and a 200 day moving average price of $128.27. The firm has a market capitalization of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research reports. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Barclays raised their price objective on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Mizuho boosted their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

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.