Prakash Investment Advisors LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Prakash Investment Advisors LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,110 shares of the company’s stock, valued at approximately $480,000.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp lifted its position in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its position in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its position in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Down 0.6 %

NYSE SNOW opened at $185.35 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $235.66. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $172.68 and a 200-day moving average price of $143.31.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Loop Capital boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Wedbush upgraded shares of Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday. UBS Group boosted their price target on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Bank of America lifted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.08.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the transaction, the executive now directly owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’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 transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 394,345 shares of company stock worth $67,286,835 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

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.