Aviva PLC Sells 78,637 Shares of Snowflake Inc. (NYSE:SNOW)

Aviva PLC cut its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,213 shares of the company's stock after selling 78,637 shares during the quarter. Aviva PLC owned about 0.06% of Snowflake worth $28,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hel Ved Capital Management Ltd increased its holdings in Snowflake by 109.6% during the 4th quarter. Hel Ved Capital Management Ltd now owns 7,965 shares of the company's stock worth $1,230,000 after acquiring an additional 4,165 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Snowflake in the fourth quarter worth $13,070,000. Prudential PLC increased its holdings in shares of Snowflake by 326.1% in the fourth quarter. Prudential PLC now owns 17,429 shares of the company's stock worth $2,691,000 after purchasing an additional 13,339 shares during the period. Landscape Capital Management L.L.C. raised its position in shares of Snowflake by 3.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock worth $406,000 after buying an additional 77 shares in the last quarter. Finally, Proem Advisors LLC bought a new stake in Snowflake during the fourth quarter valued at $6,176,000. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a report on Thursday, February 20th. Stifel Nicolaus increased their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company increased their target price on Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $201.84.

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Insider Buying and Selling

In other news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 552,930 shares of the company's stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock valued at $82,405,796 over the last ninety days. Company insiders own 7.80% of the company's stock.

Snowflake Stock Down 0.2 %

Shares of NYSE:SNOW traded down $0.30 during trading on Friday, hitting $144.16. The stock had a trading volume of 1,319,257 shares, compared to its average volume of 6,433,380. The company has a market capitalization of $47.59 billion, a PE ratio of -42.34 and a beta of 1.13. 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 firm's fifty day moving average is $164.05 and its 200 day moving average is $153.31. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

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.