Pacer Advisors Inc. Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Pacer Advisors Inc. increased its holdings in Snowflake Inc. (NYSE:SNOW) by 293.2% in the 4th quarter, HoldingsChannel reports. The fund owned 41,372 shares of the company’s stock after purchasing an additional 30,849 shares during the quarter. Pacer Advisors Inc.’s holdings in Snowflake were worth $6,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the third quarter worth $34,000. 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 buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Snowflake during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $183.01 on Thursday. The business has a 50 day simple moving average of $167.95 and a 200-day simple moving average of $136.74. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. 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 stock has a market capitalization of $60.41 billion, a PE ratio of -53.99 and a beta of 1.05.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 504,151 shares of company stock worth $84,973,139. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SNOW shares. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. KeyCorp increased their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald initiated coverage on Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

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.