Spinnaker Investment Group LLC Makes New $226,000 Investment in Snowflake Inc. (NYSE:SNOW)

Spinnaker Investment Group LLC bought a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,466 shares of the company’s stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. 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 buying an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board raised its stake 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 buying an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 1.5 %

Shares of NYSE SNOW opened at $174.77 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50 day moving average price of $163.96 and a 200 day moving average price of $135.63. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Analyst Ratings Changes

A number of analysts have commented on SNOW shares. Cantor Fitzgerald started coverage on shares of Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price for the company. Truist Financial restated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research report on Thursday, November 21st. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Finally, Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. The trade was a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock worth $84,973,139 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

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.