Cable Hill Partners LLC Buys New Stake in Snowflake Inc. (NYSE:SNOW)

Cable Hill Partners LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,320 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. Two Sigma Advisers LP boosted its position in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after buying an additional 333,500 shares during the period. Finally, General Catalyst Group Management LLC purchased a new stake in shares of Snowflake during the 4th quarter worth $40,931,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their price objective on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp lifted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the sale, the executive now directly owns 323,731 shares in the company, valued at approximately $56,348,617.86. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock worth $52,833,048 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 4.6 %

Shares of Snowflake stock opened at $173.78 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $233.88. 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 company’s 50-day simple moving average is $172.98 and its 200-day simple moving average is $145.14. The firm has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

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.