Plato Investment Management Ltd Purchases 1,874 Shares of Snowflake Inc. (NYSE:SNOW)

Plato Investment Management Ltd grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 34.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,236 shares of the company’s stock after acquiring an additional 1,874 shares during the period. Plato Investment Management Ltd’s holdings in Snowflake were worth $1,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment purchased a new position in shares of Snowflake during the third quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the fourth quarter valued at about $29,000. Perkins Coie Trust Co increased its position in shares of Snowflake by 136.3% during the fourth 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. Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake during the fourth quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after buying an additional 230 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 1.9 %

SNOW opened at $173.81 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market capitalization of $57.37 billion, a PE ratio of -51.27 and a beta of 1.07. The firm’s 50 day simple moving average is $173.43 and its two-hundred day simple moving average is $146.10.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research report on Tuesday, February 18th. TD Cowen boosted their price target 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. Needham & Company LLC boosted their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Jefferies Financial Group boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.92.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,193 shares of company stock worth $50,220,063. Company insiders own 7.80% of the company’s stock.

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.