Cynosure Group LLC Invests $637,000 in Snowflake Inc. (NYSE:SNOW)

Cynosure Group LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,548 shares of the company’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC lifted its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the third quarter worth $30,000. Fortitude Family Office LLC bought a new stake in Snowflake in the third quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snowflake during the second quarter valued at about $39,000. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,582,896.10. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock valued at $32,004,752 over the last three months. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SNOW. Loop Capital reduced their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Canaccord Genuity Group decreased their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC lifted their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Trading Up 1.4 %

SNOW opened at $173.62 on Thursday. The company has a 50 day moving average of $123.68 and a 200 day moving average of $128.32. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market cap of $58.20 billion, a PE ratio of -51.22 and a beta of 0.83.

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.