Snowflake Inc. (NYSE:SNOW) Shares Bought by Donoghue Forlines LLC

Donoghue Forlines LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 168.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,424 shares of the company’s stock after purchasing an additional 7,790 shares during the quarter. Donoghue Forlines LLC’s holdings in Snowflake were worth $1,918,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Independent Advisor Alliance boosted its stake in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at about $5,851,000. Franklin Resources Inc. increased its stake in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares in the last quarter. Finally, Westend Capital Management LLC acquired a new position in Snowflake in the 4th quarter worth about $10,550,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 0.8 %

Shares of NYSE SNOW opened at $176.03 on Thursday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The business’s 50 day moving average is $163.96 and its two-hundred day moving average is $135.63. The firm has a market cap of $58.11 billion, a price-to-earnings ratio of -51.89 and a beta of 1.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Argus assumed coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. Wedbush raised shares of Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Scotiabank boosted their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by company insiders.

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.