Brighton Jones LLC Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Brighton Jones LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 90.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,885 shares of the company’s stock after purchasing an additional 29,320 shares during the quarter. Brighton Jones LLC’s holdings in Snowflake were worth $9,556,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SNOW. Toronto Dominion Bank boosted its position in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance raised its position in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $5,851,000. Franklin Resources Inc. grew its position in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Finally, Westend Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $10,550,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 504,151 shares of company stock worth $84,973,139. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $174.77 on Friday. The company has a market cap of $57.69 billion, a P/E ratio of -51.56 and a beta of 1.05. The business has a 50 day moving average of $164.87 and a two-hundred day moving average of $135.90. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Piper Sandler upped their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Friday, January 10th. TD Cowen lifted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Bank of America upped their target price on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

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.