68,324 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Westend Capital Management LLC

Westend Capital Management LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,324 shares of the company’s stock, valued at approximately $10,550,000. Snowflake makes up approximately 3.1% of Westend Capital Management LLC’s investment portfolio, making the stock its 16th biggest position.

Several other large investors have also recently added to or reduced their stakes in the business. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new position in Snowflake in the third quarter valued at $34,000. Larson Financial Group LLC lifted its holdings in Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after buying an additional 152 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of Snowflake during the 3rd quarter worth about $40,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 1.9 %

SNOW opened at $170.89 on Friday. The company has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. 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 Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The firm has a 50 day moving average price of $161.11 and a 200 day moving average price of $135.02.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNOW shares. Mizuho boosted their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Friday, January 10th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Finally, Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock valued at $62,545,855 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

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.