UNICOM Systems Inc. Takes $2.09 Million Position in Snowflake Inc. (NYSE:SNOW)

UNICOM Systems Inc. acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,545 shares of the company’s stock, valued at approximately $2,091,000. Snowflake accounts for approximately 0.5% of UNICOM Systems Inc.’s holdings, making the stock its 20th largest holding.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Snowflake by 12,318.3% in the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Snowflake by 96.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock worth $120,076,000 after buying an additional 513,214 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of NYSE SNOW opened at $186.08 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $171.06 and a two-hundred day simple moving average of $140.10. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of -54.89 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The transaction 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 dated 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 transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SNOW. Scotiabank boosted their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Truist Financial restated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Loop Capital boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $187.06.

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.