Cresset Asset Management LLC Buys 5,324 Shares of Snowflake Inc. (NYSE:SNOW)

Cresset Asset Management LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,088 shares of the company’s stock after acquiring an additional 5,324 shares during the period. Cresset Asset Management LLC’s holdings in Snowflake were worth $5,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Snowflake by 59.6% in the 4th quarter. GAMMA Investing LLC now owns 391 shares of the company’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Nordea Investment Management AB grew its position in Snowflake by 2.3% in the fourth quarter. Nordea Investment Management AB now owns 23,911 shares of the company’s stock valued at $3,682,000 after acquiring an additional 536 shares during the last quarter. Diversified Trust Co raised its stake in Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after acquiring an additional 3,121 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $216,000. Finally, ORG Partners LLC grew its holdings in shares of Snowflake by 7.4% during the 4th quarter. ORG Partners LLC now owns 2,761 shares of the company’s stock valued at $426,000 after purchasing an additional 190 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent research reports. Mizuho upped their price objective on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group dropped their price target on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Wells Fargo & Company reduced their price objective on shares of Snowflake from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. Finally, Oppenheimer lifted their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $174.12 on Friday. The company has a market capitalization of $57.48 billion, a P/E ratio of -51.36 and a beta of 1.11. The company’s 50-day moving average is $153.28 and its 200 day moving average is $158.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,963 shares of company stock valued at $58,204,058. Company insiders own 7.80% of the company’s stock.

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.