Red Spruce Capital LLC Has $2.10 Million Position in Snowflake Inc. (NYSE:SNOW)

Red Spruce Capital LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,620 shares of the company’s stock after buying an additional 393 shares during the period. Red Spruce Capital LLC’s holdings in Snowflake were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Snowflake by 15.5% in the third 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. Franklin Resources Inc. raised its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Westend Capital Management LLC bought a new position in shares of Snowflake during the fourth quarter valued at about $10,550,000. Finally, Kraematon Investment Advisors Inc. purchased a new position in Snowflake during the fourth quarter worth about $240,000. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 1.5 %

SNOW stock opened at $173.43 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The business’s 50 day moving average price is $162.06 and its two-hundred day moving average price is $135.12. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Ratings Changes

Several research firms have commented on SNOW. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. Evercore ISI raised their price target on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price objective for the company. Finally, UBS Group cut their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by corporate insiders.

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.