5,055 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by GraniteShares Advisors LLC

GraniteShares Advisors LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,055 shares of the company’s stock, valued at approximately $781,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter worth approximately $29,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter worth approximately $25,000. Perkins Coie Trust Co raised its stake in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake during the fourth quarter worth approximately $38,000. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW opened at $164.14 on Wednesday. The firm has a 50-day moving average of $172.71 and a 200-day moving average of $144.79. Snowflake Inc. has a one year low of $107.13 and a one year high of $235.66. The company has a market cap of $54.18 billion, a PE ratio of -48.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNOW. Bank of America boosted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. UBS Group boosted their price objective on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC boosted their price objective on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $196.19.

Insider Activity

In other news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated 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 owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 371,810 shares of company stock valued at $63,340,544 in the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.