MYDA Advisors LLC Acquires Shares of 3,500 Snowflake Inc. (NYSE:SNOW)

MYDA Advisors LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,500 shares of the company’s stock, valued at approximately $540,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. grew its position in Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock worth $1,438,000 after purchasing an additional 3,971 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Snowflake by 50.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock valued at $535,000 after acquiring an additional 1,559 shares in the last quarter. Blankinship & Foster LLC purchased a new stake in shares of Snowflake during the third quarter valued at approximately $896,000. Synovus Financial Corp lifted its holdings in Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after acquiring an additional 1,352 shares during the period. Finally, Franklin Resources Inc. boosted its position in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.9 %

Shares of NYSE SNOW opened at $143.34 on Friday. The firm’s fifty day moving average is $159.07 and its 200 day moving average is $154.66. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. 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 company has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNOW. DA Davidson decreased their target price on Snowflake from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush set a $210.00 target price on shares of Snowflake in a research note on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

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.