Pallas Capital Advisors LLC Buys 2,271 Shares of Snowflake Inc. (NYSE:SNOW)

Pallas Capital Advisors LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 83.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,990 shares of the company’s stock after purchasing an additional 2,271 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Snowflake were worth $771,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNOW. State Street Corp grew its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP increased its stake in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% in the 3rd 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 in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after acquiring an additional 223,936 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. KeyCorp raised their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho increased their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Loop Capital raised their price target on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Needham & Company LLC upped their price objective on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.69.

Snowflake Stock Performance

Shares of SNOW stock opened at $163.40 on Wednesday. The company’s fifty day moving average price is $158.33 and its 200-day moving average price is $134.37. The stock has a market cap of $53.94 billion, a PE ratio of -48.20 and a beta of 1.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 in the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.