266,000 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Trivest Advisors Ltd

Trivest Advisors Ltd bought a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 266,000 shares of the company’s stock, valued at approximately $41,073,000. Snowflake accounts for 1.9% of Trivest Advisors Ltd’s investment portfolio, making the stock its 21st largest holding. Trivest Advisors Ltd owned approximately 0.08% of Snowflake as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $288,000. Independent Advisor Alliance boosted its stake in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Snowflake during the fourth quarter worth about $5,851,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNOW. Cantor Fitzgerald raised their price target on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Citigroup increased their price target on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Bank of America upped their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, JMP Securities reiterated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Performance

Shares of Snowflake stock opened at $154.35 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $50.95 billion, a PE ratio of -45.53 and a beta of 1.07. The company has a 50 day moving average of $173.01 and a 200-day moving average of $148.93. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at approximately $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,648 shares of company stock worth $48,387,318 over the last three months. Insiders own 7.80% of the company’s stock.

About Snowflake

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.