Bridgewater Associates LP Increases Holdings in Snowflake Inc. (NYSE:SNOW)

Bridgewater Associates LP raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2,546.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 243,694 shares of the company's stock after purchasing an additional 234,484 shares during the period. Bridgewater Associates LP owned approximately 0.07% of Snowflake worth $37,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in 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 period. Norges Bank bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC boosted its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. GQG Partners LLC purchased a new position in shares of Snowflake in the fourth quarter valued at $750,572,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after buying an additional 15,314 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business'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 value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $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 sold 491,589 shares of company stock valued at $82,405,796 over the last three months. Company insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SNOW. Needham & Company LLC upped their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $201.76.

Snowflake Trading Down 1.9 %

Shares of Snowflake stock traded down $2.74 during trading hours on Friday, hitting $143.34. The company's stock had a trading volume of 2,483,780 shares, compared to its average volume of 6,410,768. The company has a market capitalization of $47.32 billion, a PE ratio of -42.28 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 company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50 day moving average of $159.87 and a 200 day moving average of $154.12.

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.