Edmond DE Rothschild Holding S.A. Buys 4,256 Shares of Snowflake Inc. (NYSE:SNOW)

Edmond DE Rothschild Holding S.A. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 34.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,644 shares of the company’s stock after acquiring an additional 4,256 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Snowflake were worth $2,570,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Toronto Dominion Bank raised its position in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth $288,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in Snowflake during the fourth quarter valued at about $5,851,000. Finally, Stephens Consulting LLC grew its position in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after purchasing an additional 2,000 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. KeyCorp increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Loop Capital boosted their price target on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group reduced their price objective on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. Finally, Needham & Company LLC boosted their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.83.

Snowflake Price Performance

Snowflake stock opened at $146.29 on Tuesday. The business’s 50-day simple moving average is $171.49 and its 200 day simple moving average is $151.82. 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 has a market cap of $48.29 billion, a price-to-earnings ratio of -43.15 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 503,968 shares of company stock worth $84,363,550. Company insiders own 7.80% of the company’s stock.

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.