Bessemer Group Inc. lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,738 shares of the company's stock after selling 4,590 shares during the quarter. Bessemer Group Inc. owned 0.10% of Snowflake worth $50,142,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $29,000. Quadrant Capital Group LLC increased its position in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after buying an additional 91 shares during the period. Groupama Asset Managment bought a new stake in Snowflake in the third quarter valued at $25,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after acquiring an additional 144 shares during the period. Finally, 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 acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Analyst Ratings Changes
SNOW has been the topic of several analyst reports. Rosenblatt Securities raised their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Bank of America raised their target price on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Macquarie assumed coverage on Snowflake in a report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $202.51.
Check Out Our Latest Research Report on SNOW
Insider Transactions at Snowflake
In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business'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 completion of the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock worth $82,405,796 in the last ninety days. Insiders own 7.80% of the company's stock.
Snowflake Stock Up 1.1 %
Shares of NYSE:SNOW traded up $1.63 during midday trading on Tuesday, hitting $146.18. The stock had a trading volume of 952,867 shares, compared to its average volume of 6,415,002. The company has a market cap of $48.25 billion, a P/E ratio of -43.12 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The business's 50-day simple moving average is $162.27 and its 200-day simple moving average is $154.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
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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