Iron Gate Global Advisors LLC Purchases 25,627 Shares of Snowflake Inc. (NYSE:SNOW)

Iron Gate Global Advisors LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 87.6% during the fourth quarter, HoldingsChannel reports. The firm owned 54,885 shares of the company’s stock after purchasing an additional 25,627 shares during the period. Snowflake comprises 1.2% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Iron Gate Global Advisors LLC’s holdings in Snowflake were worth $8,475,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC grew its stake in shares of Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its position in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SNOW shares. Citigroup upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Rosenblatt Securities boosted their price objective on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Macquarie began coverage on Snowflake in a research report on Wednesday, April 2nd. They issued a “neutral” rating and a $160.00 target price for the company. Finally, Wolfe Research raised shares of 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. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.51.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock worth $82,405,796 over the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 1.4 %

SNOW stock opened at $146.59 on Wednesday. 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 twelve month low of $107.13 and a twelve month high of $194.40. The company has a market cap of $48.39 billion, a P/E ratio of -43.24 and a beta of 1.13. The business has a fifty day moving average of $161.48 and a 200-day moving average of $153.98.

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.