MIG Capital LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

MIG Capital LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,049 shares of the company’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment acquired a new position in shares of Snowflake during the third quarter worth $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake during the 4th quarter worth $29,000. Quadrant Capital Group LLC increased its position in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after buying an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 6.8 %

Shares of SNOW opened at $130.41 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The stock has a market cap of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13. The firm’s fifty day moving average is $168.97 and its two-hundred day moving average is $152.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the sale, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,186 shares of company stock valued at $82,353,709. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company raised their price target on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Piper Sandler lifted their price target on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

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.