Independent Advisor Alliance Purchases 548 Shares of Snowflake Inc. (NYSE:SNOW)

Independent Advisor Alliance boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 15.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,078 shares of the company’s stock after purchasing an additional 548 shares during the period. Independent Advisor Alliance’s holdings in Snowflake were worth $468,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Comerica Bank lifted its stake in Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares during the last quarter. EMC Capital Management bought a new position in Snowflake in the first quarter valued at about $63,000. Cetera Investment Advisers grew its holdings in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after purchasing an additional 42,563 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Snowflake by 76.5% during the first quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock worth $4,659,000 after purchasing an additional 12,497 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 1.4 %

NYSE SNOW opened at $173.70 on Friday. The business has a fifty day simple moving average of $124.88 and a 200 day simple moving average of $128.64. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market capitalization of $58.22 billion, a P/E ratio of -51.24 and a beta of 0.83.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,582,896.10. This trade represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 204,661 shares of company stock worth $32,004,752 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. UBS Group reduced their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Loop Capital reduced their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Needham & Company LLC upped their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, JMP Securities lowered their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $181.09.

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.