Capital Advantage Inc. Purchases Shares of 4,364 Snowflake Inc. (NYSE:SNOW)

Capital Advantage Inc. purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,364 shares of the company’s stock, valued at approximately $674,000.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB raised its stake in Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock worth $535,000 after acquiring an additional 1,559 shares in the last quarter. Synovus Financial Corp raised its position in Snowflake by 28.6% during the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after purchasing an additional 1,352 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after acquiring an additional 7,373 shares during the period. GAMMA Investing LLC boosted its position in Snowflake by 59.6% during the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company’s stock valued at $60,000 after acquiring an additional 146 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Snowflake by 2.3% during the 4th quarter. Nordea Investment Management AB now owns 23,911 shares of the company’s stock valued at $3,682,000 after acquiring an additional 536 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.1 %

Snowflake stock opened at $167.87 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $153.50 and a 200-day simple moving average of $157.82. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a market capitalization of $55.41 billion, a PE ratio of -49.52 and a beta of 1.11.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SNOW shares. Wells Fargo & Company decreased their price target on Snowflake from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research note on Tuesday, February 18th. Needham & Company LLC increased their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, UBS Group upped their price target on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.28.

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.