Powell Investment Advisors LLC Buys Shares of 1,308 Snowflake Inc. (NYSE:SNOW)

Powell Investment Advisors LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,308 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sycomore Asset Management boosted its stake in Snowflake by 13.7% during the fourth quarter. Sycomore Asset Management now owns 63,637 shares of the company’s stock valued at $9,826,000 after buying an additional 7,684 shares in the last quarter. Silicon Valley Capital Partners acquired a new stake in Snowflake in the 4th quarter valued at about $154,000. Savant Capital LLC bought a new position in shares of Snowflake during the 4th quarter valued at about $2,936,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Snowflake in the 4th quarter worth approximately $656,000. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Snowflake by 53.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 5,079 shares of the company’s stock worth $784,000 after purchasing an additional 1,769 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Down 1.3 %

Shares of Snowflake stock opened at $183.87 on Monday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. 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 stock has a 50 day moving average price of $170.79 and a two-hundred day moving average price of $139.70. The stock has a market capitalization of $60.70 billion, a P/E ratio of -54.24 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Oppenheimer raised their price objective on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Evercore ISI lifted their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, KeyCorp upped their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by insiders.

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.