Benjamin Edwards Inc. Purchases New Stake in Snowflake Inc. (NYSE:SNOW)

Benjamin Edwards Inc. acquired a new position in Snowflake Inc. (NYSE:SNOW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,884 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Snowflake during the 3rd quarter valued at approximately $6,568,000. Erste Asset Management GmbH bought a new stake in Snowflake in the third quarter valued at $1,025,000. Edgestream Partners L.P. acquired a new position in shares of Snowflake during the third quarter valued at $4,852,000. Harvard Management Co. Inc. bought a new position in shares of Snowflake during the third quarter worth about $2,036,000. Finally, Consolidated Press International Holdings Ltd. increased its holdings in shares of Snowflake by 70.1% in the 3rd quarter. Consolidated Press International Holdings Ltd. now owns 36,439 shares of the company’s stock worth $4,185,000 after acquiring an additional 15,018 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNOW shares. Scotiabank raised their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday. Robert W. Baird lowered their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Monness Crespi & Hardt upped their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.89.

Snowflake Trading Down 5.1 %

Shares of NYSE SNOW opened at $171.53 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The business has a 50-day moving average price of $134.22 and a two-hundred day moving average price of $129.04. The firm has a market capitalization of $56.62 billion, a PE ratio of -51.81 and a beta of 1.03.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now owns 208,735 shares in the company, valued at $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 292,114 shares of company stock valued at $47,587,279 over the last three months. 7.80% of the stock is owned by corporate insiders.

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.