Howard Capital Management Inc. Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

Howard Capital Management Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,800 shares of the company’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares in the last quarter. Prospect Financial Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $288,000. Independent Advisor Alliance boosted its stake in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake during the 4th quarter valued at $5,851,000. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake 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 sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of Snowflake stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total value of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $36,528,625. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock valued at $63,340,544 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE:SNOW opened at $164.14 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50-day simple moving average is $172.71 and its two-hundred day simple moving average is $144.79. The stock has a market cap of $54.18 billion, a PE ratio of -48.42 and a beta of 1.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66.

Analyst Upgrades and Downgrades

Several analysts have commented on SNOW shares. Royal Bank of Canada increased their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. Monness Crespi & Hardt increased their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Loop Capital increased their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

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.