Virtu Financial LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Virtu Financial LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,271 shares of the company’s stock, valued at approximately $5,755,000.

Other institutional investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC raised its holdings in shares of Snowflake by 24.2% during the third quarter. OneDigital Investment Advisors LLC now owns 3,154 shares of the company’s stock valued at $362,000 after purchasing an additional 614 shares during the period. Empowered Funds LLC grew its position in shares of Snowflake by 8.8% during the 3rd quarter. Empowered Funds LLC now owns 6,013 shares of the company’s stock valued at $691,000 after acquiring an additional 487 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Snowflake during the 3rd quarter valued at approximately $1,292,000. Prospera Private Wealth LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $146,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Snowflake by 126.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,372 shares of the company’s stock valued at $2,570,000 after buying an additional 12,492 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,429 shares of company stock valued at $50,065,812 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $157.94 on Friday. The company has a market cap of $52.14 billion, a PE ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a 50-day simple moving average of $172.74 and a 200-day simple moving average of $149.34.

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Loop Capital increased their target price on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Needham & Company LLC raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

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.