UNICOM Systems Inc. Invests $2.09 Million in Snowflake Inc. (NYSE:SNOW)

UNICOM Systems Inc. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,545 shares of the company’s stock, valued at approximately $2,091,000. Snowflake accounts for about 0.5% of UNICOM Systems Inc.’s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake in the 4th quarter worth approximately $29,000. Groupama Asset Managment bought a new position in Snowflake during the 3rd quarter valued at approximately $25,000. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $38,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNOW. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. TD Cowen lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Oppenheimer increased their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, KeyCorp increased their price target on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.06.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock valued at $88,283,752 in the last quarter. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Up 1.1 %

Shares of SNOW stock opened at $186.08 on Tuesday. The stock has a market cap of $61.43 billion, a P/E ratio of -54.89 and a beta of 1.07. The company’s fifty day simple moving average is $171.06 and its two-hundred day simple moving average is $140.10. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

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.