Archford Capital Strategies LLC Has $547,000 Stake in Snowflake Inc. (NYSE:SNOW)

Archford Capital Strategies LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 20.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,541 shares of the company’s stock after buying an additional 590 shares during the quarter. Archford Capital Strategies LLC’s holdings in Snowflake were worth $547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Linden Thomas Advisory Services LLC boosted its holdings in Snowflake by 7.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,557 shares of the company’s stock worth $1,785,000 after purchasing an additional 796 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares in the last quarter. New Century Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $267,000. Finally, Spinnaker Investment Group LLC acquired a new position in Snowflake during the fourth quarter valued at approximately $226,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now directly owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 504,151 shares of company stock worth $84,973,139. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $174.05 on Monday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $165.83 and its 200 day simple moving average is $136.12. The firm has a market capitalization of $57.45 billion, a PE ratio of -51.34 and a beta of 1.05.

Wall Street Analyst Weigh In

SNOW has been the topic of several recent analyst reports. Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their target price on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target for the company. Finally, Oppenheimer upped their price objective on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and two have assigned 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 $188.06.

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.