Element Pointe Advisors LLC Takes $603,000 Position in Snowflake Inc. (NYSE:SNOW)

Element Pointe Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,907 shares of the company’s stock, valued at approximately $603,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $988,950,000. GQG Partners LLC purchased a new position in Snowflake during the fourth quarter valued at $750,572,000. Jennison Associates LLC grew its position in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. FMR LLC increased its stake in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. This represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $183.00 price objective on shares of Snowflake in a research note on Wednesday, April 2nd. Barclays boosted their price target on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Stifel Nicolaus upped their target price on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Daiwa Capital Markets assumed coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.28.

Snowflake Stock Up 0.4 %

Snowflake stock opened at $168.54 on Wednesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The stock has a market cap of $55.63 billion, a PE ratio of -49.72 and a beta of 1.11. 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 stock’s fifty day moving average is $153.39 and its two-hundred day moving average is $157.90.

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.