D.A. Davidson & CO. Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

D.A. Davidson & CO. raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 93.1% during the fourth quarter, HoldingsChannel reports. The firm owned 66,901 shares of the company’s stock after purchasing an additional 32,253 shares during the quarter. D.A. Davidson & CO.’s holdings in Snowflake were worth $10,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Asset Dedication LLC raised its holdings in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group raised its holdings in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after buying an additional 90 shares during the last quarter. Catalyst Private Wealth LLC raised its holdings in shares of Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group raised their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, TD Cowen raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $188.94.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock worth $88,283,752 in the last ninety days. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $192.91 on Wednesday. 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 firm has a market capitalization of $63.68 billion, a price-to-earnings ratio of -56.91 and a beta of 1.07. The company’s 50-day moving average is $172.08 and its two-hundred day moving average is $142.71. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66.

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.