Xponance Inc. Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Xponance Inc. increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,243 shares of the company’s stock after buying an additional 4,670 shares during the period. Xponance Inc.’s holdings in Snowflake were worth $9,148,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its holdings in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Snowflake by 0.6% during 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 in the last quarter. Larson Financial Group LLC lifted its holdings in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after purchasing an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 90 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the transaction, the executive vice president now owns 582,930 shares in the company, valued at $96,364,158.30. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,648 shares of company stock valued at $48,387,318. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Down 1.3 %

NYSE SNOW opened at $154.35 on Wednesday. The firm has a 50 day simple moving average of $173.01 and a 200-day simple moving average of $148.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The firm has a market cap of $50.95 billion, a price-to-earnings ratio of -45.53 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. UBS Group increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Royal Bank of Canada increased their price objective on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

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.