Quantum Private Wealth LLC Purchases 1,641 Shares of Snowflake Inc. (NYSE:SNOW)

Quantum Private Wealth LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,644 shares of the company’s stock after buying an additional 1,641 shares during the period. Snowflake comprises about 0.8% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 25th largest holding. Quantum Private Wealth LLC’s holdings in Snowflake were worth $2,416,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp grew its holdings in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC increased its position in 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 acquiring an additional 138,663 shares during the period. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Piper Sandler upped their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price objective on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.63.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $187.86 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $236.33. The business has a fifty day simple moving average of $171.51 and a 200 day simple moving average of $141.67. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 516,933 shares of company stock valued at $88,283,752. 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.