Plato Investment Management Ltd Increases Position in Snowflake Inc. (NYSE:SNOW)

Plato Investment Management Ltd lifted its position in Snowflake Inc. (NYSE:SNOW) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,236 shares of the company’s stock after purchasing an additional 1,874 shares during the period. Plato Investment Management Ltd’s holdings in Snowflake were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Groupama Asset Managment purchased a new position in Snowflake during the third quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter valued at $29,000. Perkins Coie Trust Co grew its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Snowflake during the fourth quarter valued at $38,000. Finally, Geneos Wealth Management Inc. grew its stake in 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Down 1.9 %

NYSE SNOW opened at $173.81 on Tuesday. 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 capitalization of $57.37 billion, a price-to-earnings ratio of -51.27 and a beta of 1.07. The company’s 50-day simple moving average is $173.43 and its two-hundred day simple moving average is $146.10. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

Analyst Ratings Changes

Several research firms recently weighed in on SNOW. Loop Capital raised their target price on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Scotiabank raised their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. TD Cowen raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada lifted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 297,193 shares of company stock valued at $50,220,063. Company insiders own 7.80% of the company’s stock.

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.