Bray Capital Advisors Invests $926,000 in Snowflake Inc. (NYSE:SNOW)

Bray Capital Advisors bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in Snowflake by 24.1% during 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 acquired a new stake in Snowflake during the fourth quarter worth about $288,000. Independent Advisor Alliance grew its position in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after buying an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new stake in Snowflake during the fourth quarter worth about $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,582,896.10. The trade was a 8.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 394,345 shares of company stock worth $67,286,835. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SNOW. TD Cowen lifted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. UBS Group lifted their price objective on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC lifted their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Citigroup decreased their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.08.

Snowflake Stock Performance

Shares of Snowflake stock opened at $185.35 on Friday. The firm has a fifty day moving average of $172.68 and a two-hundred day moving average of $143.31. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

About Snowflake

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.