Corient Private Wealth LLC Raises Stake in Snowflake Inc. (NYSE:SNOW)

Corient Private Wealth LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,891 shares of the company’s stock after acquiring an additional 1,165 shares during the quarter. Corient Private Wealth LLC’s holdings in Snowflake were worth $2,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SNOW. Asset Dedication LLC raised its position in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the period. Breakwater Capital Group increased its holdings in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after buying an additional 69 shares during the period. Larson Financial Group LLC lifted its stake in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after acquiring an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after acquiring an additional 90 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Mizuho increased their price target on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Citigroup increased their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $157.94 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. The business has a 50-day simple moving average of $172.74 and a two-hundred day simple moving average of $149.89. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares of the company’s stock, valued at $28,491,114.31. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 297,568 shares of company stock worth $49,923,480 over the last three months. 7.80% of the stock is currently owned by company insiders.

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.