D.A. Davidson & CO. Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

D.A. Davidson & CO. raised its stake in Snowflake Inc. (NYSE:SNOW) by 93.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,901 shares of the company’s stock after acquiring an additional 32,253 shares during the period. D.A. Davidson & CO.’s holdings in Snowflake were worth $10,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new stake in Snowflake in the 4th quarter valued at $288,000. Independent Advisor Alliance increased its holdings in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Snowflake in the 4th quarter valued at $5,851,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 516,933 shares of company stock valued at $88,283,752. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $192.91 on Wednesday. The company has a 50 day moving average price of $172.08 and a 200-day moving average price of $142.71. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $235.66. The stock has a market capitalization of $63.68 billion, a PE ratio of -56.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analysts Set New Price Targets

A number of analysts have issued reports on SNOW shares. KeyCorp lifted their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday. Evercore ISI boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Scotiabank boosted their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Finally, Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $188.94.

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.