US Bancorp DE Acquires 4,565 Shares of Snowflake Inc. (NYSE:SNOW)

US Bancorp DE raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,169 shares of the company’s stock after purchasing an additional 4,565 shares during the quarter. US Bancorp DE’s holdings in Snowflake were worth $4,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC boosted its holdings in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after acquiring an additional 90 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Snowflake by 21.1% during the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the company’s stock worth $96,000 after acquiring an additional 108 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Snowflake by 16.2% during the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SNOW shares. Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 2.3 %

SNOW stock opened at $177.66 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $173.94 and its 200 day moving average is $146.64. The stock has a market cap of $58.65 billion, a price-to-earnings ratio of -52.41 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,193 shares of company stock worth $50,096,313. Insiders own 7.80% of the company’s stock.

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.