Howard Capital Management Inc. Buys Shares of 1,800 Snowflake Inc. (NYSE:SNOW)

Howard Capital Management Inc. bought a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in shares of Snowflake by 24.1% in 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. Prospect Financial Services LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $288,000. Independent Advisor Alliance raised 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 valued at $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $5,851,000. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Down 4.0 %

Shares of SNOW stock opened at $164.14 on Wednesday. The stock has a market capitalization of $54.18 billion, a PE ratio of -48.42 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66. The business has a 50-day moving average of $172.71 and a 200 day moving average of $144.79. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of analyst reports. Bank of America boosted their price objective on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Canaccord Genuity Group boosted their price objective on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp boosted their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Loop Capital upped their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.19.

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.