Daiwa Securities Group Inc. increased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 186.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,686 shares of the company's stock after purchasing an additional 49,930 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Snowflake were worth $11,841,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. EPIQ Capital Group LLC lifted its holdings in Snowflake by 8.0% in the fourth quarter. EPIQ Capital Group LLC now owns 2,927 shares of the company's stock valued at $452,000 after acquiring an additional 216 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Snowflake by 2.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,966 shares of the company's stock worth $13,583,000 after purchasing an additional 2,259 shares in the last quarter. OFI Invest Asset Management acquired a new position in Snowflake during the fourth quarter worth $408,000. Personal CFO Solutions LLC acquired a new position in Snowflake during the fourth quarter worth $216,000. Finally, Amundi lifted its stake in Snowflake by 37.9% during the fourth quarter. Amundi now owns 1,047,327 shares of the company's stock worth $168,651,000 after purchasing an additional 287,729 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Cantor Fitzgerald upped their price target on Snowflake from $201.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada upped their price target on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Loop Capital increased their price objective on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Evercore ISI increased their price objective on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, TD Cowen increased their price objective on Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $202.92.
Get Our Latest Analysis on Snowflake
Insider Buying and Selling at Snowflake
In other Snowflake news, CAO Emily Ho sold 1,508 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 3,029 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $517,959.00. Following the transaction, the executive vice president now owns 684,639 shares of the company's stock, valued at approximately $117,073,269. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 294,923 shares of company stock worth $49,689,983. 7.80% of the stock is currently owned by company insiders.
Snowflake Stock Up 1.2 %
Snowflake stock traded up $1.82 during trading hours on Wednesday, hitting $151.72. The company had a trading volume of 3,500,922 shares, compared to its average volume of 6,424,604. The firm has a market capitalization of $50.08 billion, a P/E ratio of -44.70 and a beta of 1.07. 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 firm's fifty day moving average is $173.55 and its 200-day moving average is $147.55. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.
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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