Pacer Advisors Inc. Acquires 30,849 Shares of Snowflake Inc. (NYSE:SNOW)

Pacer Advisors Inc. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 293.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,372 shares of the company’s stock after purchasing an additional 30,849 shares during the period. Pacer Advisors Inc.’s holdings in Snowflake were worth $6,388,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV grew its stake in Snowflake by 0.6% in the 4th quarter. KBC Group NV now owns 40,004 shares of the company’s stock worth $6,177,000 after acquiring an additional 220 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake in the 4th quarter worth approximately $38,000. Blue Trust Inc. boosted its stake in shares of Snowflake by 14.4% during the fourth quarter. Blue Trust Inc. now owns 1,609 shares of the company’s stock valued at $248,000 after purchasing an additional 202 shares in the last quarter. Stablepoint Partners LLC increased its holdings in Snowflake by 5.0% during the fourth quarter. Stablepoint Partners LLC now owns 6,377 shares of the company’s stock valued at $985,000 after buying an additional 301 shares during the period. Finally, Archford Capital Strategies LLC raised its stake in Snowflake by 20.0% in the fourth quarter. Archford Capital Strategies LLC now owns 3,541 shares of the company’s stock worth $547,000 after buying an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 504,151 shares of company stock worth $84,973,139. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Down 2.7 %

SNOW stock opened at $183.01 on Thursday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. 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 50-day simple moving average of $167.95 and a 200-day simple moving average of $136.74. The stock has a market capitalization of $60.41 billion, a P/E ratio of -53.99 and a beta of 1.05.

Analyst Ratings Changes

Several analysts have issued reports on SNOW shares. Royal Bank of Canada lifted their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Friday, January 10th. Cantor Fitzgerald began coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target on the stock. Scotiabank boosted their target price on 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 reiterated a “buy” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

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.