ZEGA Investments LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

ZEGA Investments LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,442 shares of the company’s stock, valued at approximately $531,000.

Several other large investors have also modified their holdings of the company. Asset Dedication LLC increased its position in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group increased its position in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after buying an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 90 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Snowflake stock opened at $157.94 on Friday. The stock’s 50 day moving average price is $172.74 and its 200 day moving average price is $149.34. The firm has a market capitalization of $52.14 billion, a PE ratio of -46.59 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. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised their price target on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Jefferies Financial Group raised their price target on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Evercore ISI raised their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank lifted their price objective on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04. Following the sale, the director now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,429 shares of company stock valued at $50,065,812. Corporate insiders own 7.80% of the company’s stock.

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.