Orion Portfolio Solutions LLC Buys 536 Shares of Snowflake Inc. (NYSE:SNOW)

Orion Portfolio Solutions LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,071 shares of the company’s stock after acquiring an additional 536 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Snowflake were worth $582,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. LRI Investments LLC increased its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake in the 3rd quarter valued at $34,000. Finally, Larson Financial Group LLC grew its position in Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the sale, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 283,158 shares of company stock worth $46,709,467. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Scotiabank lifted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Citigroup reduced their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Argus initiated coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $119.00 to $121.00 in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.46.

Snowflake Trading Down 1.0 %

Shares of Snowflake stock opened at $170.83 on Wednesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock’s 50-day simple moving average is $141.26 and its 200 day simple moving average is $130.00. The stock has a market capitalization of $56.39 billion, a P/E ratio of -50.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Snowflake Company 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.