Creekmur Asset Management LLC Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Creekmur Asset Management LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 400.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,696 shares of the company’s stock after buying an additional 2,157 shares during the period. Creekmur Asset Management LLC’s holdings in Snowflake were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the fourth quarter worth about $29,000. Blue Bell Private Wealth Management LLC raised its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares during the period. Perkins Coie Trust Co boosted its position in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake in the 4th quarter worth approximately $38,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was 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 owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Cantor Fitzgerald upped their price target on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Barclays upped their price target on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus raised their price objective on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Evercore ISI upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.14.

Snowflake Price Performance

NYSE:SNOW opened at $149.56 on Wednesday. The stock has a 50 day moving average of $171.02 and a two-hundred day moving average of $152.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

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.