Sycomore Asset Management Increases Position in Snowflake Inc. (NYSE:SNOW)

Sycomore Asset Management lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,637 shares of the company’s stock after purchasing an additional 7,684 shares during the period. Snowflake comprises approximately 1.2% of Sycomore Asset Management’s portfolio, making the stock its 28th largest position. Sycomore Asset Management’s holdings in Snowflake were worth $9,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group raised its stake in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in 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. Catalyst Private Wealth LLC grew its holdings in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its position in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $183.87 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50-day moving average price of $170.79 and a two-hundred day moving average price of $139.60. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SNOW shares. Cantor Fitzgerald began coverage on Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price for the company. Needham & Company LLC increased their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada lifted their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, Piper Sandler lifted their price objective on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Insider Transactions at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 516,933 shares of company stock valued at $88,283,752 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

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.