IFP Advisors Inc Has $752,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

IFP Advisors Inc lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,869 shares of the company’s stock after purchasing an additional 155 shares during the period. IFP Advisors Inc’s holdings in Snowflake were worth $752,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $288,000. Independent Advisor Alliance lifted its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in Snowflake during the fourth quarter worth about $5,851,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock valued at $52,833,048 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNOW. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $225.00 price target (up previously from $210.00) on shares of Snowflake in a 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. Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Finally, TD Cowen lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Trading Up 4.6 %

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

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.