Zacks Investment Management Invests $201,000 in Snowflake Inc. (NYSE:SNOW)

Zacks Investment Management acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,303 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its holdings in shares of Snowflake by 47.4% during the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after purchasing an additional 3,971 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Snowflake by 50.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock valued at $535,000 after buying an additional 1,559 shares during the period. Blankinship & Foster LLC bought a new stake in shares of Snowflake during the third quarter worth $896,000. Synovus Financial Corp raised its holdings in shares of Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after acquiring an additional 1,352 shares during the period. Finally, Franklin Resources Inc. lifted its position in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $143.34 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company’s 50 day moving average price is $159.07 and its two-hundred day moving average price is $154.97. The firm has a market cap of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’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 transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock valued at $82,405,796 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. DA Davidson decreased their price target on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research report on Tuesday, February 18th. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price for the company. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.