Donoghue Forlines LLC Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Donoghue Forlines LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 168.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,424 shares of the company’s stock after acquiring an additional 7,790 shares during the period. Donoghue Forlines LLC’s holdings in Snowflake were worth $1,918,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SNOW. Dimensional Fund Advisors LP raised its stake in shares of Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after acquiring an additional 56,027 shares during the period. ProShare Advisors LLC raised its position in Snowflake by 71.2% in the 2nd quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock worth $329,000 after purchasing an additional 1,014 shares during the period. Frank Rimerman Advisors LLC raised its position in Snowflake by 39.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,242 shares of the company’s stock worth $438,000 after purchasing an additional 924 shares during the period. Gabelli Funds LLC lifted its stake in Snowflake by 25.0% in the second quarter. Gabelli Funds LLC now owns 1,840 shares of the company’s stock worth $249,000 after purchasing an additional 368 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in shares of Snowflake by 12.6% during the second quarter. Insigneo Advisory Services LLC now owns 4,464 shares of the company’s stock valued at $603,000 after buying an additional 501 shares during the period. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. Cantor Fitzgerald began coverage on Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 price target for the company. Truist Financial reiterated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. KeyCorp upped their price target on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Needham & Company LLC lifted their price objective on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Bank of America boosted their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the sale, the executive now owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock worth $62,545,855 in the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake Trading Down 0.8 %

NYSE:SNOW opened at $176.03 on Thursday. The company has a market capitalization of $58.11 billion, a P/E ratio of -51.89 and a beta of 1.05. 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 12 month low of $107.13 and a 12 month high of $237.72. The firm has a fifty day simple moving average of $163.96 and a 200-day simple moving average of $135.63.

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.