Snowflake Inc. (NYSE:SNOW) Shares Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in Snowflake were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its holdings in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc increased its stake in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the sale, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,904 shares of company stock worth $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $167.06 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market cap of $55.15 billion, a PE ratio of -49.28 and a beta of 1.05. The firm has a fifty day moving average price of $158.33 and a 200 day moving average price of $134.37.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI upped their price target on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. TD Cowen upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. Bank of America boosted their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their price objective on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $187.69.

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.