PFG Advisors Purchases New Shares in Snowflake Inc. (NYSE:SNOW)

PFG Advisors purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,732 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $29,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter valued at $25,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co lifted its position in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after acquiring an additional 230 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America upped their target price on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Citigroup boosted their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Canaccord Genuity Group boosted their price target on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada boosted their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Loop Capital boosted their price target on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued 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 a consensus target price of $202.92.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total value of $142,331.91. Following the transaction, the executive vice president now directly owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 297,391 shares of company stock valued at $50,053,371 over the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake Trading Up 4.4 %

Shares of Snowflake stock opened at $156.41 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a 50 day moving average price of $173.24 and a two-hundred day moving average price of $148.09. The stock has a market capitalization of $51.63 billion, a PE ratio of -46.14 and a beta of 1.07.

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.