SBI Securities Co. Ltd. Takes Position in Snowflake Inc. (NYSE:SNOW)

SBI Securities Co. Ltd. bought a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 55,394 shares of the company’s stock, valued at approximately $8,553,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after acquiring an additional 335 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Snowflake during the third quarter worth about $231,000. AM Investment Strategies LLC acquired a new position in shares of Snowflake during the third quarter worth about $233,000. Clear Creek Financial Management LLC increased its stake in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after acquiring an additional 115 shares during the period. Finally, Pure Financial Advisors LLC acquired a new position in shares of Snowflake during the third quarter worth about $376,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SNOW shares. Rosenblatt Securities boosted their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus upped their target price on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank upped their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. UBS Group upped their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the completion of the sale, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,528,625. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock valued at $52,833,048 in the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $176.76 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. 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 firm’s fifty day moving average price is $173.19 and its 200 day moving average price is $145.64.

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.