Spinnaker Investment Group LLC Acquires Shares of 1,466 Snowflake Inc. (NYSE:SNOW)

Spinnaker Investment Group LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,466 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also modified their holdings of SNOW. Groupama Asset Managment acquired a new stake in Snowflake during the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at about $34,000. Perkins Coie Trust Co grew its stake 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 buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after buying an additional 152 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 1.5 %

SNOW stock opened at $174.77 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. 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 business’s 50 day moving average is $163.96 and its 200-day moving average is $135.63.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock valued at $84,973,139 in the last 90 days. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SNOW. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Friday, January 10th. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald assumed coverage on Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Finally, Mizuho increased their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

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.