Hilltop Holdings Inc. Invests $207,000 in Snowflake Inc. (NYSE:SNOW)

Hilltop Holdings Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,803 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Modus Advisors LLC increased its stake in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its holdings in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the last quarter. LRI Investments LLC grew its holdings in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the last quarter. Hoylecohen LLC increased its position in shares of Snowflake by 2.7% during the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after acquiring an additional 115 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Trading Up 0.3 %

Shares of SNOW opened at $183.64 on Monday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $132.90 and its 200-day simple moving average is $128.86. The company has a market cap of $60.62 billion, a P/E ratio of -54.17 and a beta of 1.03.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,278 shares of company stock valued at $47,825,233 in the last ninety days. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Stifel Nicolaus dropped their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Loop Capital decreased their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Bank of America raised their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Barclays increased their price target on Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $182.31.

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.