1,605 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,605 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Powell Investment Advisors LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $202,000. Sycomore Asset Management raised its stake in Snowflake by 13.7% during the 4th quarter. Sycomore Asset Management now owns 63,637 shares of the company’s stock valued at $9,826,000 after acquiring an additional 7,684 shares in the last quarter. Silicon Valley Capital Partners bought a new position in shares of Snowflake in the fourth quarter worth $154,000. Savant Capital LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $2,936,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Snowflake during the fourth quarter valued at $656,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 2.9 %

SNOW stock opened at $192.69 on Friday. The company has a 50 day moving average of $171.23 and a two-hundred day moving average of $140.81. The company has a market cap of $63.61 billion, a price-to-earnings ratio of -56.84 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $236.33. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. Wedbush upgraded shares of Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada raised their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Citigroup dropped their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. KeyCorp increased their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $187.63.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 516,933 shares of company stock valued at $88,283,752. 7.80% of the stock is owned by insiders.

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.