Tennessee Valley Asset Management Partners Makes New $81,000 Investment in Snowflake Inc. (NYSE:SNOW)

Tennessee Valley Asset Management Partners purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 407 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cigna Investments Inc. New grew its position in shares of Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after buying an additional 51 shares in the last quarter. E&G Advisors LP grew its position in shares of Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Snowflake by 5.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after buying an additional 61 shares in the last quarter. Finally, Kingfisher Capital LLC boosted its holdings in Snowflake by 0.4% in the third quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock valued at $2,253,000 after purchasing an additional 63 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on SNOW shares. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Friday, April 5th. Raymond James increased their price target on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Needham & Company LLC lowered their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Piper Sandler restated an “overweight” rating and set a $250.00 target price on shares of Snowflake in a research report on Tuesday, February 27th. Finally, Wedbush raised their target price on shares of Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.00.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snowflake news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,209 shares of company stock worth $36,391,592. 8.30% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.2 %

NYSE:SNOW opened at $147.21 on Tuesday. The company has a market capitalization of $49.20 billion, a PE ratio of -57.73 and a beta of 0.91. Snowflake Inc. has a 52-week low of $135.26 and a 52-week high of $237.72. The stock has a fifty day simple moving average of $176.10 and a 200-day simple moving average of $179.38.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current year.

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.