Gallagher Capital Advisors LLC Buys Shares of 14,398 Snowflake Inc. (NYSE:SNOW)

Gallagher Capital Advisors LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,398 shares of the company’s stock, valued at approximately $2,223,000. Snowflake makes up about 1.6% of Gallagher Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC raised its position in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group increased its stake in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after acquiring an additional 69 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after acquiring an additional 74 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after acquiring an additional 90 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of several analyst reports. UBS Group raised their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Mizuho lifted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Monness Crespi & Hardt boosted their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

Snowflake stock opened at $158.54 on Monday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company’s 50 day moving average price is $173.79 and its two-hundred day moving average price is $147.09. The stock has a market cap of $52.33 billion, a P/E ratio of -46.77 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This represents a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 297,193 shares of company stock valued at $50,096,313. 7.80% of the stock is owned by 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.