Everence Capital Management Inc. Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

Everence Capital Management Inc. bought a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel reports. The fund bought 9,000 shares of the company’s stock, valued at approximately $1,390,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Groupama Asset Managment purchased a new position in shares of Snowflake during the third quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter valued at $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the 3rd quarter worth $34,000. Finally, Larson Financial Group LLC grew its holdings in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. Loop Capital increased their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Needham & Company LLC raised their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Truist Financial restated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. TD Cowen increased their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 406,904 shares of company stock valued at $66,145,855. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $162.22 on Friday. The company has a fifty day simple moving average of $151.98 and a two-hundred day simple moving average of $132.67. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $53.55 billion, a P/E ratio of -47.85 and a beta of 1.03.

About Snowflake

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.