EFG Asset Management North America Corp. Takes Position in Snowflake Inc. (NYSE:SNOW)

EFG Asset Management North America Corp. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,840 shares of the company’s stock, valued at approximately $1,829,000.

A number of other hedge funds also recently bought and sold shares of SNOW. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance boosted its holdings in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake during the 4th quarter valued at $5,851,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,968 shares of company stock worth $50,900,550 in the last ninety days. 7.80% of the stock is owned by insiders.

Snowflake Trading Down 0.2 %

NYSE SNOW opened at $162.86 on Wednesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a 50 day moving average price of $172.75 and a 200 day moving average price of $150.63. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $53.76 billion, a PE ratio of -48.04 and a beta of 1.07.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $225.00 price objective (up previously from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Thursday, February 20th. Bank of America raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $205.08.

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.