LPL Financial LLC Boosts Position in Snowflake Inc. (NYSE:SNOW)

LPL Financial LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 37.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 176,646 shares of the company’s stock after acquiring an additional 48,403 shares during the period. LPL Financial LLC’s holdings in Snowflake were worth $27,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Dedication LLC raised its position 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 acquiring an additional 59 shares during the last quarter. Breakwater Capital Group lifted its stake in Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after acquiring an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after acquiring an additional 90 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 603,968 shares of company stock valued at $99,863,550 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Cantor Fitzgerald boosted their price objective on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Monness Crespi & Hardt boosted their price target on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, UBS Group raised their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Down 4.1 %

Shares of NYSE:SNOW opened at $150.60 on Friday. The firm has a market cap of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07. The company has a fifty day simple moving average of $171.99 and a 200 day simple moving average of $151.30. 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 12-month low of $107.13 and a 12-month high of $194.40.

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.