PUREfi Wealth LLC Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

PUREfi Wealth LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,330 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Groupama Asset Managment acquired a new stake in Snowflake in the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the 4th quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake in the 3rd quarter worth about $34,000. Finally, Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW stock opened at $187.86 on Friday. 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 has a market capitalization of $62.01 billion, a P/E ratio of -55.42 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $236.33. The stock has a 50 day moving average of $171.51 and a two-hundred day moving average of $141.67.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 in the last 90 days. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNOW shares. Royal Bank of Canada raised their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. TD Cowen raised their price objective 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 raised their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Citigroup cut their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.63.

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.