Sheets Smith Wealth Management purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, Holdings Channel.com reports. The firm purchased 4,469 shares of the company’s stock, valued at approximately $1,258,000.

Several other large investors also recently made changes to their positions in SNOW. Tsfg LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at $80,000. Crestwood Advisors Group LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $203,000. Enterprise Trust & Investment Co purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Envestnet Asset Management Inc. purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $454,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $64,000.

Shares of SNOW stock traded up $3.20 on Wednesday, hitting $296.55. 2,862,980 shares of the stock traded hands, compared to its average volume of 6,398,147. The company’s 50-day moving average price is $323.44. Snowflake Inc. has a twelve month low of $208.55 and a twelve month high of $429.00.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Tuesday, December 1st. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $159.62 million for the quarter, compared to analysts’ expectations of $147.65 million. The company’s revenue was up 118.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.92) earnings per share. On average, analysts expect that Snowflake Inc. will post -1.01 EPS for the current fiscal year.

Several equities analysts recently commented on SNOW shares. Canaccord Genuity reaffirmed a “hold” rating and issued a $275.00 price objective (up from $250.00) on shares of Snowflake in a research report on Wednesday, December 2nd. Atlantic Securities started coverage on shares of Snowflake in a research report on Thursday, October 8th. They set an “underweight” rating and a $214.00 price target for the company. Barclays raised their price target on shares of Snowflake from $277.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 3rd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered shares of Snowflake from a “buy” rating to a “hold” rating and set a $335.00 price target for the company. in a research report on Friday, December 11th. Finally, William Blair began coverage on shares of Snowflake in a research report on Friday, December 18th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $288.23.

Snowflake Profile

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries.

Recommended Story: Learning About the VIX – Volatility Index

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW).

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.