Ignite Planners LLC Acquires 141 Shares of Snowflake Inc. (NYSE:SNOW)

Ignite Planners LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,797 shares of the company’s stock after acquiring an additional 141 shares during the period. Ignite Planners LLC’s holdings in Snowflake were worth $454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP boosted 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 boosted its holdings 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 valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after acquiring an additional 223,936 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Bank of America upped their target price on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. DA Davidson reiterated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Citigroup reduced their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.69.

Snowflake Stock Up 0.6 %

Shares of NYSE:SNOW opened at $163.40 on Wednesday. The company has a market capitalization of $53.94 billion, a PE ratio of -48.20 and a beta of 1.05. 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 business has a fifty day moving average price of $158.33 and a two-hundred day moving average price of $134.37. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the transaction, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by company insiders.

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.