Edmond DE Rothschild Holding S.A. grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,644 shares of the company's stock after acquiring an additional 4,256 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Snowflake were worth $2,570,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its position in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp grew its holdings in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company's stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Norges Bank purchased a new position in Snowflake during the fourth quarter valued at $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $750,572,000. Finally, Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after buying an additional 138,663 shares during the period. 65.10% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Snowflake
In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 503,968 shares of company stock worth $84,363,550. Corporate insiders own 7.80% of the company's stock.
Wall Street Analysts Forecast Growth
SNOW has been the subject of a number of analyst reports. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Truist Financial lowered their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday. Wedbush set a $210.00 target price on Snowflake in a research note on Wednesday, January 22nd. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a research report on Thursday, February 20th. Finally, Stifel Nicolaus raised their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $203.05.
Check Out Our Latest Research Report on SNOW
Snowflake Price Performance
Shares of NYSE SNOW traded up $4.69 during midday trading on Wednesday, hitting $154.23. The stock had a trading volume of 5,960,858 shares, compared to its average volume of 6,380,442. 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 stock has a 50 day simple moving average of $170.55 and a 200-day simple moving average of $152.08. The company has a market capitalization of $50.91 billion, a PE ratio of -45.50 and a beta of 1.07. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.
About Snowflake
(
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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