New Century Financial Group LLC Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

New Century Financial Group LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,647 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment bought a new position in Snowflake in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake in the 3rd quarter worth approximately $34,000. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler raised their target price on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Friday, January 10th. Finally, Citigroup lowered their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock worth $84,973,139 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $174.05 on Friday. The business has a 50-day simple moving average of $164.87 and a two-hundred day simple moving average of $135.90. 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 firm has a market cap of $57.45 billion, a price-to-earnings ratio of -51.34 and a beta of 1.05. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

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.