SBI Securities Co. Ltd. Acquires Shares of 55,394 Snowflake Inc. (NYSE:SNOW)

SBI Securities Co. Ltd. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 55,394 shares of the company’s stock, valued at approximately $8,553,000.

Several other hedge funds also recently modified their holdings of SNOW. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter worth about $29,000. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Snowflake during the 4th quarter worth about $38,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 312,193 shares of company stock valued at $52,833,048. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNOW. Barclays upped their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen upped their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. Bank of America increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Wedbush set a $210.00 price objective on Snowflake in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Price Performance

Snowflake stock opened at $176.76 on Friday. The stock has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. The company has a fifty day simple moving average of $173.19 and a 200-day simple moving average of $145.64. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake 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.