Artisan Partners Limited Partnership lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 558,556 shares of the company's stock after selling 90,394 shares during the quarter. Artisan Partners Limited Partnership owned about 0.17% of Snowflake worth $86,247,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Snowflake by 10.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 267,176 shares of the company's stock valued at $43,341,000 after buying an additional 24,493 shares during the period. Korea Investment CORP increased its stake in shares of Snowflake by 74.4% in the 4th quarter. Korea Investment CORP now owns 283,576 shares of the company's stock valued at $43,787,000 after acquiring an additional 120,961 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $896,000. Ausdal Financial Partners Inc. bought a new position in Snowflake during the 4th quarter worth approximately $246,000. Finally, Keystone Investors PTE Ltd. acquired a new position in Snowflake during the fourth quarter valued at approximately $2,055,000. 65.10% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Snowflake
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,968 shares of company stock worth $84,363,550 over the last ninety days. Insiders own 7.80% of the company's stock.
Snowflake Stock Performance
Shares of SNOW stock traded up $3.40 during trading on Tuesday, reaching $149.56. 3,422,362 shares of the company's stock were exchanged, compared to its average volume of 6,379,003. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm's fifty day moving average price is $171.02 and its 200-day moving average price is $152.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Monness Crespi & Hardt raised their price objective on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Scotiabank boosted their target price on Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a research note on Monday, December 9th. Canaccord Genuity Group raised their price target on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $204.14.
Get Our Latest Stock Report on SNOW
Snowflake Company Profile
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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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