Venturi Wealth Management LLC Boosts Stake in Snowflake Inc. (NYSE:SNOW)

Venturi Wealth Management LLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 575.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,655 shares of the company’s stock after buying an additional 3,114 shares during the period. Venturi Wealth Management LLC’s holdings in Snowflake were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the third quarter valued at approximately $34,000. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Snowflake during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW opened at $186.44 on Thursday. The stock has a fifty day moving average of $172.37 and a 200-day moving average of $143.01. The firm has a market capitalization of $61.54 billion, a P/E ratio of -55.00 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on 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 in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 440,241 shares of company stock worth $75,367,285 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research report on Tuesday. Cantor Fitzgerald initiated coverage on Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. UBS Group raised their target price on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.75.

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.