RMR Wealth Builders Makes New Investment in Snowflake Inc. (NYSE:SNOW)

RMR Wealth Builders acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,402 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment acquired a new position in shares of Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the third quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake in the third quarter valued at $34,000. Larson Financial Group LLC raised its holdings in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in Snowflake in the third quarter valued at $40,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $162.65 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. 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 50-day moving average of $156.42 and a 200-day moving average of $133.87. The firm has a market cap of $53.69 billion, a price-to-earnings ratio of -47.98 and a beta of 1.05.

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Scotiabank upped their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Royal Bank of Canada increased their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. KeyCorp increased their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.11.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

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.