Snowflake Inc. (NYSE:SNOW) Stock Position Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the company’s stock after buying an additional 949 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Snowflake were worth $1,429,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment bought a new position in shares of Snowflake during the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC grew its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co increased its holdings in shares of Snowflake by 136.3% in the fourth 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, Union Bancaire Privee UBP SA bought a new position in shares of Snowflake in the fourth quarter valued at $38,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Up 0.5 %

Snowflake stock opened at $157.94 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 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 firm has a market capitalization of $52.14 billion, a PE ratio of -46.59 and a beta of 1.07. The business’s 50-day simple moving average is $172.74 and its 200-day simple moving average is $149.34.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the completion of the transaction, the director now owns 182,999 shares of the company’s stock, valued at approximately $28,491,114.31. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 3,765 shares of Snowflake stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $586,172.85. Following the sale, the executive vice president now directly owns 616,602 shares in the company, valued at approximately $95,998,765.38. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,429 shares of company stock valued at $50,065,812 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNOW. Stifel Nicolaus lifted their target price on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Loop Capital raised their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Needham & Company LLC lifted their target price 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. Finally, StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.08.

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.