MIG Capital LLC Buys New Shares in Snowflake Inc. (NYSE:SNOW)

MIG Capital LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,049 shares of the company’s stock, valued at approximately $316,000.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Snowflake during the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $750,572,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. Groupama Asset Managment boosted its holdings in Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in Snowflake by 1,303.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,719,704 shares of the company’s stock worth $265,539,000 after buying an additional 1,597,148 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock worth $82,353,709 in the last ninety days. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SNOW shares. Rosenblatt Securities upped their price objective on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Daiwa Capital Markets started coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective for the company. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Stock Performance

Snowflake stock opened at $130.41 on Friday. 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 capitalization of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13. The company has a 50 day moving average price of $168.97 and a 200-day moving average price of $152.40. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

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.