Sagespring Wealth Partners LLC Invests $417,000 in Snowflake Inc. (NYSE:SNOW)

Sagespring Wealth Partners LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,698 shares of the company’s stock, valued at approximately $417,000.

A number of other institutional investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in Snowflake during the fourth quarter valued at $29,000. Quadrant Capital Group LLC increased its holdings in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after buying an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co lifted its position in shares of 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 during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake in the fourth quarter worth $38,000. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

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 sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.4 %

Snowflake stock opened at $146.59 on Wednesday. The firm has a market capitalization of $48.39 billion, a price-to-earnings ratio of -43.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock’s fifty day moving average is $161.48 and its two-hundred day moving average is $153.98.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNOW shares. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC upped their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Barclays increased their price objective on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Bank of America boosted their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Daiwa America raised shares of Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.51.

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.