iA Global Asset Management Inc. Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

iA Global Asset Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 45,170 shares of the company’s stock, valued at approximately $6,975,000.

Several other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC purchased a new position in Snowflake in the fourth quarter worth about $29,000. Groupama Asset Managment purchased a new position in Snowflake in the third quarter worth about $25,000. Blue Bell Private Wealth Management LLC boosted its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co boosted its position in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 3,765 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the transaction, the executive vice president now owns 616,602 shares of the company’s stock, valued at $95,998,765.38. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the sale, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,429 shares of company stock worth $50,065,812. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Mizuho raised their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price objective on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Loop Capital raised their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

Snowflake Price Performance

Shares of Snowflake stock opened at $157.23 on Friday. The stock has a market cap of $51.90 billion, a price-to-earnings ratio of -46.38 and a beta of 1.07. 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 stock has a 50 day moving average price of $172.83 and a 200-day moving average price of $149.04. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

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.