Zacks Investment Management Buys Shares of 1,303 Snowflake Inc. (NYSE:SNOW)

Zacks Investment Management bought a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,303 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. NewEdge Advisors LLC raised its stake in shares of Snowflake by 30.3% in the 4th quarter. NewEdge Advisors LLC now owns 11,280 shares of the company’s stock valued at $1,742,000 after acquiring an additional 2,623 shares in the last quarter. Iron Gate Global Advisors LLC raised its position in shares of Snowflake by 87.6% in the fourth quarter. Iron Gate Global Advisors LLC now owns 54,885 shares of the company’s stock valued at $8,475,000 after purchasing an additional 25,627 shares during the period. United Capital Financial Advisors LLC raised its position in shares of Snowflake by 22.0% in the fourth quarter. United Capital Financial Advisors LLC now owns 10,294 shares of the company’s stock valued at $1,590,000 after purchasing an additional 1,859 shares during the period. Gabelli Funds LLC lifted its stake in shares of Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Snowflake by 2,546.0% during the 4th quarter. Bridgewater Associates LP now owns 243,694 shares of the company’s stock worth $37,629,000 after buying an additional 234,484 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $143.34 on Monday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a 50-day simple moving average of $159.07 and a 200 day simple moving average of $154.97. 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 stock has a market capitalization of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,589 shares of company stock valued at $82,405,796. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNOW. Needham & Company LLC upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Piper Sandler raised their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Thursday, February 20th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Snowflake 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.