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

Everence Capital Management Inc. bought a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,000 shares of the company’s stock, valued at approximately $1,390,000.

Several other large investors have also recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board grew its stake in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP grew its position in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares in the last quarter. AQR Capital Management LLC grew its position in Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares in the last quarter. SG Americas Securities LLC raised its position in Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Snowflake by 90.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNOW shares. Needham & Company LLC increased their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.03.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,904 shares of company stock worth $66,145,855. Insiders own 7.80% of the company’s stock.

Snowflake Trading Up 3.0 %

Shares of NYSE SNOW opened at $162.22 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50-day moving average of $151.98 and a 200 day moving average of $132.67. The stock has a market cap of $53.55 billion, a P/E ratio of -47.85 and a beta of 1.03.

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.