Vestor Capital LLC Invests $13.32 Million in Snowflake Inc. (NYSE:SNOW)

Vestor Capital LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 86,259 shares of the company’s stock, valued at approximately $13,319,000. Snowflake accounts for about 1.0% of Vestor Capital LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC raised its position 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 buying an additional 3,662,671 shares during the last quarter. State Street Corp grew its stake in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC grew its stake in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP grew its stake in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Snowflake by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after purchasing an additional 51,366 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $157.94 on Friday. The stock has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. 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 1-year low of $107.13 and a 1-year high of $194.40. The stock’s 50-day moving average is $172.74 and its 200 day moving average is $149.34.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,429 shares of company stock valued at $50,065,812. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNOW shares. Stifel Nicolaus upped their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Oppenheimer upped their price objective on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC increased their price target on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Bank of America increased their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

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.