IVC Wealth Advisors LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

IVC Wealth Advisors LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,582 shares of the company’s stock, valued at approximately $244,000.

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

Snowflake Price Performance

Shares of SNOW stock opened at $174.77 on Friday. The business’s 50-day moving average price is $163.96 and its 200-day moving average price is $135.63. Snowflake Inc. has a 12 month low of $107.13 and a 12 month 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. Bank of America raised their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price objective for the company. Evercore ISI boosted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Citigroup cut 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, Jefferies Financial Group raised their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock worth $84,973,139 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Snowflake 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.