Stablepoint Partners LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Stablepoint Partners LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 6,377 shares of the company’s stock after purchasing an additional 301 shares during the period. Stablepoint Partners LLC’s holdings in Snowflake were worth $985,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SNOW. Groupama Asset Managment purchased a new position in Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new position in Snowflake during the third quarter valued at approximately $30,000. Fortitude Family Office LLC bought a new position in Snowflake in the third quarter worth approximately $34,000. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Snowflake by 1,437.5% in the fourth 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction dated 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 owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale 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 the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock valued at $84,973,139 over the last quarter. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

SNOW opened at $174.05 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day moving average price of $165.83 and a 200 day moving average price of $136.12.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Monness Crespi & Hardt raised their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald began coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Finally, Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

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.