American Century Companies Inc. Sells 13,350 Shares of Snowflake Inc. (NYSE:SNOW)

American Century Companies Inc. decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 750,110 shares of the company's stock after selling 13,350 shares during the period. American Century Companies Inc. owned about 0.23% of Snowflake worth $115,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake in the fourth quarter worth about $29,000. Groupama Asset Managment acquired a new position in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC boosted its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co grew its position in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Down 1.7 %

Shares of NYSE:SNOW traded down $2.73 during trading on Thursday, reaching $157.01. The stock had a trading volume of 2,645,480 shares, compared to its average volume of 6,313,386. The firm's fifty day moving average is $172.61 and its 200 day moving average is $150.69. Snowflake Inc. has a 52 week low of $107.13 and a 52 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 stock has a market cap of $51.83 billion, a price-to-earnings ratio of -46.31 and a beta of 1.07.

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Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Rosenblatt Securities raised 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. Oppenheimer boosted their price objective on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. KeyCorp upped their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Citigroup boosted their target price on Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $205.08.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated 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 owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company's stock, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is owned by corporate insiders.

Snowflake 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.