Bedell Frazier Investment Counselling LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Bedell Frazier Investment Counselling LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,611 shares of the company’s stock, valued at approximately $249,000.

A number of other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter valued at $29,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC lifted its stake in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho raised their price target on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler increased their target price on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Bank of America boosted their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Jefferies Financial Group raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Nine 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Performance

NYSE:SNOW opened at $150.60 on Monday. 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 firm has a market capitalization of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The firm has a 50-day moving average price of $171.99 and a 200 day moving average price of $151.58.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 503,968 shares of company stock valued at $84,363,550 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.