Envestnet Portfolio Solutions Inc. Acquires 949 Shares of Snowflake Inc. (NYSE:SNOW)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,255 shares of the company’s stock after acquiring an additional 949 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Snowflake were worth $1,429,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SNOW. Jennison Associates LLC raised its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Snowflake by 27.9% in 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Snowflake during the 4th quarter worth approximately $124,433,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after buying an additional 333,500 shares in the last quarter. Finally, Amundi grew its position in Snowflake by 37.9% in the fourth quarter. Amundi now owns 1,047,327 shares of the company’s stock valued at $168,651,000 after acquiring an additional 287,729 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW opened at $157.94 on Friday. The firm’s 50 day moving average is $172.74 and its 200-day moving average is $149.34. 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 capitalization of $52.14 billion, a PE ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. Truist Financial reissued a “buy” rating and set a $225.00 price objective (up from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Cantor Fitzgerald boosted their price target on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus raised their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the sale, the executive vice president now directly owns 582,930 shares in the company, valued at $96,364,158.30. This trade represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,429 shares of company stock worth $50,065,812. 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.