Snowflake Inc. (NYSE:SNOW) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,441 shares of the company’s stock after purchasing an additional 195 shares during the period. Kingsview Wealth Management LLC’s holdings in Snowflake were worth $377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter valued at about $25,000. Perkins Coie Trust Co grew its stake in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $38,000. Finally, V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 over the last three months. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 2.9 %

NYSE SNOW opened at $192.69 on Friday. The business has a fifty day moving average price of $171.23 and a 200 day moving average price of $140.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $63.61 billion, a P/E ratio of -56.84 and a beta of 1.07. Snowflake Inc. has a one year low of $107.13 and a one year high of $236.33.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Friday, January 10th. Cantor Fitzgerald initiated coverage on Snowflake in a research note on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $187.63.

Snowflake 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.