Red Spruce Capital LLC Has $2.10 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Red Spruce Capital LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,620 shares of the company’s stock after acquiring an additional 393 shares during the quarter. Red Spruce Capital LLC’s holdings in Snowflake were worth $2,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $5,851,000. Oxinas Partners Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth $364,000. Fort Washington Investment Advisors Inc. OH raised its position in Snowflake by 34.8% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 19,462 shares of the company’s stock worth $3,005,000 after acquiring an additional 5,022 shares in the last quarter. TB Alternative Assets Ltd. bought a new position in shares of Snowflake in the 4th quarter valued at about $427,000. Finally, Ballentine Partners LLC bought a new position in shares of Snowflake in the 4th quarter valued at about $208,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNOW. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Truist Financial restated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Oppenheimer upped their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. Finally, Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Trading Up 1.5 %

Shares of SNOW stock opened at $173.43 on Wednesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. 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 of $162.06 and a 200-day moving average of $135.12.

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.