MYDA Advisors LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

MYDA Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,500 shares of the company’s stock, valued at approximately $540,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Claret Asset Management Corp acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $245,000. Coastline Trust Co raised its holdings in Snowflake by 116.5% in the 4th quarter. Coastline Trust Co now owns 2,438 shares of the company’s stock valued at $376,000 after acquiring an additional 1,312 shares during the period. Dnca Finance acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $4,223,000. GeoWealth Management LLC lifted its holdings in Snowflake by 51.8% during the 4th quarter. GeoWealth Management LLC now owns 1,125 shares of the company’s stock worth $174,000 after purchasing an additional 384 shares during the last quarter. Finally, Commerce Bank boosted its stake in Snowflake by 6.0% in the 4th quarter. Commerce Bank now owns 5,793 shares of the company’s stock valued at $894,000 after purchasing an additional 328 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW stock opened at $143.34 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm has a 50 day moving average of $159.07 and a 200-day moving average of $154.66. The company has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13.

Analysts Set New Price Targets

SNOW has been the topic of several research reports. Canaccord Genuity Group upped their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. DA Davidson dropped their price target on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 14th. 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 note on Thursday, February 27th. Piper Sandler boosted their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Insider Buying and Selling

In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock valued at $82,405,796 over the last ninety days. 7.80% of the stock is owned by corporate 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.