Ieq Capital LLC Purchases 254,200 Shares of Snowflake Inc. (NYSE:SNOW)

Ieq Capital LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,253,782 shares of the company’s stock after purchasing an additional 254,200 shares during the quarter. Snowflake accounts for about 1.9% of Ieq Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Ieq Capital LLC owned about 0.38% of Snowflake worth $193,596,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNOW. Private Wealth Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at $419,000. Lyell Wealth Management LP raised its position in shares of Snowflake by 0.6% during the fourth quarter. Lyell Wealth Management LP now owns 57,730 shares of the company’s stock worth $8,914,000 after purchasing an additional 347 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Snowflake by 86.5% during the 4th quarter. Global Retirement Partners LLC now owns 2,270 shares of the company’s stock valued at $351,000 after purchasing an additional 1,053 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $7,736,000. Finally, Venturi Wealth Management LLC increased its stake in Snowflake by 575.6% during the 4th quarter. Venturi Wealth Management LLC now owns 3,655 shares of the company’s stock worth $564,000 after purchasing an additional 3,114 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SNOW. Mizuho upped their price target on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Truist Financial reissued a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Cantor Fitzgerald assumed coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. Finally, Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.75.

Snowflake Trading Down 3.3 %

Shares of NYSE:SNOW opened at $186.44 on Thursday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66. The business has a 50 day moving average of $172.37 and a 200-day moving average of $143.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,241 shares of company stock valued at $75,367,285. Insiders own 7.80% of the company’s stock.

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.