Snowflake Inc. (NYSE:SNOW) Holdings Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 86.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,306 shares of the company's stock after selling 899,103 shares during the period. Assenagon Asset Management S.A.'s holdings in Snowflake were worth $22,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Breakwater Capital Group grew its position in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the period. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company's stock worth $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC boosted its position in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company's stock worth $382,000 after purchasing an additional 104 shares during the period. Clear Creek Financial Management LLC increased its holdings in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company's stock valued at $210,000 after purchasing an additional 115 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Snowflake by 16.2% during the third quarter. Covestor Ltd now owns 827 shares of the company's stock worth $95,000 after buying an additional 115 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNOW. Deutsche Bank Aktiengesellschaft upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Barclays raised Snowflake from an "equal weight" rating to an "overweight" rating and set a $190.00 price objective for the company in a research report on Friday, January 10th. Evercore ISI raised their target price on shares of Snowflake from $170.00 to $190.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. UBS Group dropped their price objective on shares of Snowflake from $155.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. Finally, TD Cowen lifted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $188.06.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares of the company's stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,904 shares of company stock valued at $62,545,855. Insiders own 7.80% of the company's stock.

Snowflake Price Performance

SNOW traded up $3.25 during midday trading on Friday, reaching $170.89. 4,156,568 shares of the company's stock were exchanged, compared to its average volume of 3,873,271. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market capitalization of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business's 50-day moving average price is $161.11 and its 200 day moving average price is $135.02.

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.