Janney Montgomery Scott LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Janney Montgomery Scott LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 28.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,877 shares of the company’s stock after acquiring an additional 9,784 shares during the period. Janney Montgomery Scott LLC’s holdings in Snowflake were worth $6,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment acquired a new position in Snowflake in the third quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter worth about $34,000. Perkins Coie Trust Co boosted its position in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Snowflake by 81.3% during 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 last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock valued at $84,973,139 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

SNOW opened at $187.89 on Wednesday. The business has a fifty day simple moving average of $166.79 and a 200-day simple moving average of $136.37. 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 cap of $62.02 billion, a PE ratio of -55.42 and a beta of 1.05. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on SNOW shares. Oppenheimer upped their target price on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup reduced their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Argus initiated coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $188.06.

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.