Alpha DNA Investment Management LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Alpha DNA Investment Management LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,557 shares of the company’s stock, valued at approximately $704,000.

A number of other institutional investors have also recently made changes to their positions in SNOW. Prospect Financial Services LLC bought a new position in Snowflake during the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Snowflake during the 4th quarter valued at $5,851,000. Stephens Consulting LLC boosted its stake in shares of Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after buying an additional 2,000 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC grew its holdings in shares of Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock worth $82,405,796 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Down 1.9 %

Shares of NYSE SNOW opened at $143.34 on Friday. The business’s 50 day moving average price is $159.87 and its 200-day moving average price is $154.12. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13.

Analyst Ratings Changes

SNOW has been the topic of a number of recent research reports. Piper Sandler increased their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Jefferies Financial Group lowered their price objective on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company boosted their target price on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Rosenblatt Securities increased their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, KeyCorp cut their price objective on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

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.