Newbridge Financial Services Group Inc. Makes New $656,000 Investment in Snowflake Inc. (NYSE:SNOW)

Newbridge Financial Services Group Inc. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,249 shares of the company’s stock, valued at approximately $656,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new position in Snowflake in the 3rd quarter worth approximately $205,000. Perpetual Ltd boosted its stake in shares of Snowflake by 2.5% in the third quarter. Perpetual Ltd now owns 6,294 shares of the company’s stock valued at $723,000 after purchasing an additional 154 shares during the period. Independence Bank of Kentucky grew its holdings in Snowflake by 16.8% during the 3rd quarter. Independence Bank of Kentucky now owns 6,585 shares of the company’s stock valued at $756,000 after purchasing an additional 945 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Snowflake by 260.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,317 shares of the company’s stock valued at $266,000 after purchasing an additional 1,675 shares in the last quarter. Finally, RFG Holdings Inc. lifted its holdings in Snowflake by 19.8% in the 3rd quarter. RFG Holdings Inc. now owns 3,686 shares of the company’s stock worth $423,000 after buying an additional 610 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Piper Sandler upped their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Wedbush raised shares of Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.06.

Snowflake Trading Down 1.3 %

Snowflake stock opened at $183.87 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $60.70 billion, a PE ratio of -54.24 and a beta of 1.07. The firm has a 50 day simple moving average of $170.79 and a 200-day simple moving average of $139.60.

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.