LRI Investments LLC Grows Holdings in Snowflake Inc. (NYSE:SNOW)

LRI Investments LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 401.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 923 shares of the company’s stock after purchasing an additional 739 shares during the period. LRI Investments LLC’s holdings in Snowflake were worth $143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SNOW. Janus Henderson Group PLC lifted its position in shares of Snowflake by 1,444.8% during the fourth quarter. Janus Henderson Group PLC now owns 389,756 shares of the company’s stock worth $60,215,000 after purchasing an additional 364,525 shares in the last quarter. Jefferies Financial Group Inc. grew its stake in Snowflake by 139.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock worth $947,000 after purchasing an additional 3,577 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Snowflake by 0.7% during the 4th quarter. Gotham Asset Management LLC now owns 446,248 shares of the company’s stock worth $68,905,000 after purchasing an additional 3,242 shares during the period. Graham Capital Management L.P. increased its holdings in Snowflake by 2.8% during the 4th quarter. Graham Capital Management L.P. now owns 20,566 shares of the company’s stock worth $3,176,000 after purchasing an additional 566 shares during the period. Finally, Focus Partners Wealth raised its position in Snowflake by 30.0% in the 4th quarter. Focus Partners Wealth now owns 99,085 shares of the company’s stock valued at $15,417,000 after purchasing an additional 22,864 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SNOW shares. Wedbush set a $210.00 target price on shares of Snowflake in a research note on Wednesday, January 22nd. Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. UBS Group raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Citigroup boosted their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Ten 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.28.

Snowflake Stock Up 3.7%

SNOW opened at $180.57 on Tuesday. 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 $59.61 billion, a P/E ratio of -53.27 and a beta of 1.11. The business has a 50 day simple moving average of $153.34 and a 200-day simple moving average of $159.84.

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.