Marble Harbor Investment Counsel LLC Purchases Shares of 3,265 Snowflake Inc. (NYSE:SNOW)

Marble Harbor Investment Counsel LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,265 shares of the company’s stock, valued at approximately $504,000.

A number of other large investors also recently made changes to their positions in SNOW. Jennison Associates LLC increased its position in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board increased its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Two Sigma Advisers LP increased its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the period. Raymond James Financial Inc. bought a new position in shares of Snowflake during the fourth quarter worth approximately $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Snowflake by 165.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after purchasing an additional 333,500 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 297,193 shares of company stock valued at $50,096,313. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $158.54 on Friday. The company has a market capitalization of $52.33 billion, a PE ratio of -46.77 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50 day simple moving average of $173.79 and a two-hundred day simple moving average of $146.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Piper Sandler raised their price objective on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their price target on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Citigroup raised their target price on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.92.

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.