Dana Investment Advisors Inc. Invests $5.30 Million in Snowflake Inc. (NYSE:SNOW)

Dana Investment Advisors Inc. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 34,299 shares of the company’s stock, valued at approximately $5,296,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Snowflake by 27.9% during the third 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. Finally, Ontario Teachers Pension Plan Board raised its stake 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 last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 12.0 %

SNOW opened at $156.10 on Friday. The business has a fifty day moving average price of $173.80 and a 200 day moving average price of $146.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a market capitalization of $51.53 billion, a price-to-earnings ratio of -46.05 and a beta of 1.07.

Insider Activity

In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,193 shares of company stock worth $50,096,313. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SNOW shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Monness Crespi & Hardt increased their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald raised their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

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.