First Trust Advisors LP Lowers Stock Position in Snowflake Inc. (NYSE:SNOW)

First Trust Advisors LP lowered its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,279,121 shares of the company's stock after selling 56,551 shares during the period. First Trust Advisors LP owned about 0.39% of Snowflake worth $197,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC grew its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Norges Bank bought a new stake in Snowflake in the fourth quarter valued at $988,950,000. FMR LLC raised its holdings in shares of 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. GQG Partners LLC bought a new position in shares of Snowflake during the 4th quarter worth about $750,572,000. Finally, Geode Capital Management LLC grew its stake in shares of Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Up 5.1 %

SNOW stock traded up $7.17 on Wednesday, reaching $147.40. 5,680,214 shares of the company traded hands, compared to its average volume of 6,408,030. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a market cap of $48.66 billion, a P/E ratio of -43.48 and a beta of 1.13. The firm has a fifty day simple moving average of $157.00 and a 200-day simple moving average of $155.02. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNOW. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Monness Crespi & Hardt boosted their price objective on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Mizuho increased their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Citigroup raised their price objective on Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.