Quantum Private Wealth LLC Acquires 1,641 Shares of Snowflake Inc. (NYSE:SNOW)

Quantum Private Wealth LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 11.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,644 shares of the company’s stock after acquiring an additional 1,641 shares during the period. Snowflake comprises approximately 0.8% of Quantum Private Wealth LLC’s holdings, making the stock its 25th largest position. Quantum Private Wealth LLC’s holdings in Snowflake were worth $2,416,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SNOW. Palumbo Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth about $293,000. bLong Financial LLC purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $337,000. Manchester Capital Management LLC lifted its stake in Snowflake by 69.0% during the 4th quarter. Manchester Capital Management LLC now owns 1,886 shares of the company’s stock valued at $291,000 after acquiring an additional 770 shares in the last quarter. PUREfi Wealth LLC bought a new position in shares of Snowflake during the fourth quarter valued at about $205,000. Finally, ABC Arbitrage SA purchased a new position in shares of Snowflake in the 4th quarter worth approximately $1,491,000. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,933 shares of company stock worth $88,283,752. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNOW shares. Scotiabank lifted their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler boosted their price target on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Finally, KeyCorp boosted their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.63.

Snowflake Trading Down 2.5 %

Shares of SNOW opened at $187.86 on Friday. The firm has a fifty day simple moving average of $171.51 and a two-hundred day simple moving average of $141.67. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $236.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.