RMR Wealth Builders Takes $216,000 Position in Snowflake Inc. (NYSE:SNOW)

RMR Wealth Builders acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,402 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also made changes to their positions in SNOW. Thurston Springer Miller Herd & Titak Inc. increased its position 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 purchasing an additional 90 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Snowflake by 50.7% in the fourth quarter. Park Avenue Securities LLC now owns 13,000 shares of the company’s stock worth $2,007,000 after acquiring an additional 4,373 shares during the period. Oak Thistle LLC boosted its stake in shares of Snowflake by 10.6% in the 4th quarter. Oak Thistle LLC now owns 5,183 shares of the company’s stock valued at $800,000 after purchasing an additional 495 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Snowflake by 7.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 9,587 shares of the company’s stock worth $1,480,000 after buying an additional 646 shares during the period. Finally, Ignite Planners LLC raised its stake in Snowflake by 5.3% during the fourth quarter. Ignite Planners LLC now owns 2,797 shares of the company’s stock worth $454,000 after buying an additional 141 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW stock opened at $167.90 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month 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 simple moving average of $159.22 and a 200-day simple moving average of $134.60.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SNOW shares. Scotiabank lifted their price objective on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. KeyCorp increased their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday. Needham & Company LLC lifted their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $187.69.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock worth $62,545,855 in the last three months. Corporate 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.