Accent Capital Management LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9,126.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,920 shares of the company's stock after purchasing an additional 6,845 shares during the period. Accent Capital Management LLC's holdings in Snowflake were worth $1,069,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. State Street Corp raised its position in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new stake in Snowflake in the 4th quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC grew its position in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Snowflake Trading Up 2.7 %
NYSE:SNOW traded up $4.07 during trading hours on Wednesday, reaching $153.61. 2,482,160 shares of the stock were exchanged, compared to its average volume of 6,364,617. The business has a 50-day moving average of $171.02 and a two-hundred day moving average of $152.07. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market capitalization of $50.71 billion, a price-to-earnings ratio of -45.31 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Insider Activity
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares of the company's stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. UBS Group increased their price objective on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Daiwa Capital Markets initiated coverage on Snowflake in a report on Tuesday. They set a "buy" rating and a $210.00 target price for the company. Jefferies Financial Group cut their price target on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a report on Monday. Finally, Truist Financial dropped their price objective on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $203.05.
Get Our Latest Analysis on Snowflake
Snowflake Company Profile
(
Free Report)
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.
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