NZS Capital LLC Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

NZS Capital LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 139,391 shares of the company’s stock, valued at approximately $21,523,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Prospect Financial Services LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $288,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the period. Bourgeon Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth about $5,851,000. Stephens Consulting LLC raised its stake in Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after purchasing an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its position in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after buying an additional 4,559 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,342 shares of company stock worth $59,978,513. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Monness Crespi & Hardt boosted their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Truist Financial dropped their price objective on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Piper Sandler reduced their target price on shares of Snowflake from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $183.00 price target on shares of Snowflake in a research report on Wednesday, April 2nd. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $200.27.

Snowflake Trading Down 0.3 %

NYSE SNOW opened at $158.26 on Friday. The firm has a market capitalization of $52.24 billion, a PE ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a 50-day simple moving average of $154.91 and a 200-day simple moving average of $155.84. 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 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.