Brown Brothers Harriman & Co. Grows Position in Snowflake Inc. (NYSE:SNOW)

Brown Brothers Harriman & Co. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 500.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300 shares of the company’s stock after purchasing an additional 250 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Snowflake were worth $46,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in Snowflake by 24.1% in the third 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. Prospect Financial Services LLC bought a new position in shares of Snowflake in the 4th quarter worth $288,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of 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 purchasing 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 stake in 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. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Loop Capital boosted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. Rosenblatt Securities boosted their target price on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald raised their price target on Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Stock Performance

SNOW opened at $154.23 on Thursday. The firm’s fifty day simple moving average is $170.55 and its two-hundred day simple moving average is $152.08. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a market cap of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 in the last 90 days. 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.