Newbridge Financial Services Group Inc. Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Newbridge Financial Services Group Inc. bought a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,249 shares of the company’s stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter worth about $25,000. Perkins Coie Trust Co increased its holdings in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake during the fourth quarter worth approximately $38,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SNOW shares. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. KeyCorp lifted their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped 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. Citigroup reduced their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $187.06.

Snowflake Price Performance

NYSE:SNOW opened at $183.87 on Friday. The firm’s fifty day moving average price is $170.79 and its two-hundred day moving average price is $139.60. 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 company has a market cap of $60.70 billion, a P/E ratio of -54.24 and a beta of 1.07. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 516,933 shares of company stock worth $88,283,752. 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.