PFG Advisors Takes Position in Snowflake Inc. (NYSE:SNOW)

PFG Advisors purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,732 shares of the company’s stock, valued at approximately $267,000.

Several other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp boosted its holdings in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Bank of America raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. TD Cowen raised their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Loop Capital raised their target price on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.92.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $517,959.00. Following the completion of the transaction, the executive vice president now directly owns 684,639 shares in the company, valued at approximately $117,073,269. The trade was a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 297,391 shares of company stock worth $50,053,371. 7.80% of the stock is owned by company insiders.

Snowflake Stock Up 4.4 %

NYSE:SNOW opened at $156.41 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock’s 50 day moving average price is $173.24 and its two-hundred day moving average price is $148.09. The firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of -46.14 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.