iA Global Asset Management Inc. Acquires New Position in Snowflake Inc. (NYSE:SNOW)

iA Global Asset Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 45,170 shares of the company’s stock, valued at approximately $6,975,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. Groupama Asset Managment bought a new stake in shares of Snowflake in the 3rd quarter valued at about $25,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its holdings 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 purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $157.23 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a fifty day moving average price of $172.83 and a 200 day moving average price of $149.04. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market cap of $51.90 billion, a P/E ratio of -46.38 and a beta of 1.07.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC lifted their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Scotiabank lifted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. KeyCorp lifted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Barclays lifted their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.08.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,429 shares of company stock worth $50,065,812 in the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.