New England Research & Management Inc. Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

New England Research & Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $494,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SNOW. Dimensional Fund Advisors LP boosted its holdings in shares of Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after buying an additional 56,027 shares during the period. ProShare Advisors LLC boosted its holdings in Snowflake by 71.2% during the second quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock worth $329,000 after purchasing an additional 1,014 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Snowflake by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 33,182 shares of the company’s stock worth $4,482,000 after purchasing an additional 146 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Snowflake by 42.5% during the second quarter. NewEdge Advisors LLC now owns 13,800 shares of the company’s stock worth $1,864,000 after purchasing an additional 4,116 shares during the last quarter. Finally, Quarry LP boosted its holdings in Snowflake by 608.2% during the second quarter. Quarry LP now owns 949 shares of the company’s stock worth $128,000 after purchasing an additional 815 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SNOW shares. Royal Bank of Canada increased their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Mizuho increased their target price on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Jefferies Financial Group upped their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity

In other news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 504,151 shares of company stock worth $84,973,139. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW opened at $183.01 on Thursday. The company’s 50 day moving average is $167.95 and its 200-day moving average is $136.74. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

About Snowflake

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.