Outfitter Financial LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Outfitter Financial LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,365 shares of the company’s stock after purchasing an additional 200 shares during the period. Outfitter Financial LLC’s holdings in Snowflake were worth $983,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SNOW. Jennison Associates LLC increased its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares during the period. Two Sigma Advisers LP boosted its holdings in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. International Assets Investment Management LLC grew its position in Snowflake by 12,318.3% during the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after acquiring an additional 526,608 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Snowflake by 96.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock worth $120,076,000 after purchasing an additional 513,214 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a report on Tuesday. Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, TD Cowen 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.08.

Snowflake Stock Performance

Shares of SNOW stock opened at $185.35 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $172.68 and a two-hundred day moving average of $143.31. The company has a market cap of $61.18 billion, a P/E ratio of -54.68 and a beta of 1.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 394,345 shares of company stock worth $67,286,835 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

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.