Belpointe Asset Management LLC Acquires 183 Shares of Snowflake Inc. (NYSE:SNOW)

Belpointe Asset Management LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,629 shares of the company’s stock after acquiring an additional 183 shares during the period. Belpointe Asset Management LLC’s holdings in Snowflake were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mariner LLC lifted its stake in shares of Snowflake by 1.3% during the 4th quarter. Mariner LLC now owns 243,525 shares of the company’s stock worth $37,603,000 after buying an additional 3,159 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Snowflake in the 4th quarter valued at about $417,000. Sterling Capital Management LLC lifted its position in Snowflake by 7.8% during the fourth quarter. Sterling Capital Management LLC now owns 13,417 shares of the company’s stock worth $2,072,000 after acquiring an additional 974 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Snowflake by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 139,056 shares of the company’s stock worth $21,472,000 after acquiring an additional 880 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Snowflake by 3.4% in the fourth quarter. Neuberger Berman Group LLC now owns 54,276 shares of the company’s stock valued at $8,381,000 after purchasing an additional 1,805 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SNOW shares. Royal Bank of Canada boosted their price target on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Mizuho boosted their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Loop Capital raised their price target on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.51.

Snowflake Price Performance

Shares of NYSE SNOW opened at $146.05 on Thursday. 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 firm’s 50-day moving average price is $160.73 and its 200-day moving average price is $153.93. The firm has a market capitalization of $48.21 billion, a P/E ratio of -43.08 and a beta of 1.13. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by company insiders.

Snowflake 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.