Pallas Capital Advisors LLC Has $771,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

Pallas Capital Advisors LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 83.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,990 shares of the company’s stock after purchasing an additional 2,271 shares during the period. Pallas Capital Advisors LLC’s holdings in Snowflake were worth $771,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake in the third quarter worth approximately $34,000. Larson Financial Group LLC boosted its holdings in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in Snowflake in the third quarter valued at approximately $40,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SNOW shares. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Argus assumed coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. TD Cowen increased their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their target price on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.69.

Snowflake Trading Up 0.6 %

Shares of Snowflake stock opened at $163.40 on Wednesday. The firm has a market cap of $53.94 billion, a PE ratio of -48.20 and a beta of 1.05. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day moving average price of $158.33 and a 200-day moving average price of $134.37.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by company insiders.

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.