Accent Capital Management LLC Buys 6,845 Shares of Snowflake Inc. (NYSE:SNOW)

Accent Capital Management LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 9,126.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,920 shares of the company’s stock after purchasing an additional 6,845 shares during the period. Accent Capital Management LLC’s holdings in Snowflake were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Toronto Dominion Bank lifted its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new stake in Snowflake during the fourth quarter worth about $288,000. Independent Advisor Alliance grew its stake 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. increased its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SNOW shares. Canaccord Genuity Group lifted their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Piper Sandler lifted their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. UBS Group upped their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Finally, Monness Crespi & Hardt increased their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Insider Buying and Selling

In other news, CFO Michael Scarpelli sold 300,000 shares of the business’s 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 directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $150.60 on Friday. The firm has a market capitalization of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. The firm’s 50-day moving average price is $171.99 and its 200-day moving average price is $151.02. 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 1-year low of $107.13 and a 1-year high of $194.40.

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.