Snowflake Inc. (NYSE:SNOW) Shares Acquired by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Snowflake were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Snowflake by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,858 shares of the company’s stock worth $76,366,000 after acquiring an additional 3,487 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Snowflake by 49.7% in the 3rd quarter. Victory Capital Management Inc. now owns 420,088 shares of the company’s stock worth $48,251,000 after acquiring an additional 139,459 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Snowflake by 59.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,851 shares of the company’s stock worth $4,003,000 after acquiring an additional 13,053 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Snowflake by 39.3% during the 3rd quarter. Kovack Advisors Inc. now owns 3,194 shares of the company’s stock worth $367,000 after purchasing an additional 901 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in shares of Snowflake by 1,048.2% during the 3rd quarter. Plato Investment Management Ltd now owns 5,362 shares of the company’s stock worth $615,000 after purchasing an additional 4,895 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Oppenheimer raised their price objective on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. TD Cowen raised their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Loop Capital raised their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada raised their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Monness Crespi & Hardt raised their price objective on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Insider Activity

In other news, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value 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 represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 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 value of $100,859.40. Following the completion of the sale, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of SNOW opened at $156.41 on Friday. The stock has a 50 day moving average price of $173.24 and a 200 day moving average price of $147.87. 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 company has a market capitalization of $51.63 billion, a price-to-earnings ratio of -46.14 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-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.