Erste Asset Management GmbH Makes New $1.03 Million Investment in Snowflake Inc. (NYSE:SNOW)

Erste Asset Management GmbH purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $1,025,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snowflake during the second quarter worth approximately $41,000. Mather Group LLC. increased its stake in Snowflake by 223.6% in the 2nd quarter. Mather Group LLC. now owns 906 shares of the company’s stock valued at $122,000 after buying an additional 626 shares during the period. Fulton Bank N.A. grew its position in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after acquiring an additional 228 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Snowflake by 10.7% during the second quarter. Harbor Capital Advisors Inc. now owns 7,531 shares of the company’s stock valued at $1,017,000 after purchasing an additional 727 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % 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 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 264,278 shares of company stock valued at $42,512,248 over the last three months. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC lifted their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday. Finally, Loop Capital lowered their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Trading Up 2.1 %

NYSE SNOW opened at $176.02 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $128.62 and its two-hundred day simple moving average is $128.42. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a market capitalization of $59.00 billion, a price-to-earnings ratio of -51.92 and a beta of 1.03.

Snowflake Company 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.