Banco Bilbao Vizcaya Argentaria S.A. Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,815 shares of the company's stock after purchasing an additional 8,002 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Snowflake were worth $5,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in Snowflake in the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the fourth quarter worth approximately $750,572,000. Jennison Associates LLC raised its holdings in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 364,342 shares of company stock valued at $59,978,513 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Down 0.3 %

SNOW opened at $158.26 on Friday. The business has a 50 day simple moving average of $154.91 and a 200-day simple moving average of $155.59. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a market capitalization of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target on the stock. Loop Capital increased their target price on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Mizuho boosted their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Truist Financial cut their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.