GQG Partners LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

GQG Partners LLC bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,860,902 shares of the company's stock, valued at approximately $750,572,000. GQG Partners LLC owned about 1.47% of Snowflake as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Asset Dedication LLC lifted its stake in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group lifted its position in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares during the period. Larson Financial Group LLC grew its position in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after purchasing an additional 90 shares during the period. Institutional investors own 65.10% of the company's stock.

Remove Ads

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 603,968 shares of company stock worth $99,863,550. 7.80% of the stock is owned by company insiders.

Snowflake Trading Down 4.1 %

Shares of Snowflake stock traded down $6.38 during trading hours on Friday, hitting $150.60. The company's stock had a trading volume of 4,647,822 shares, compared to its average volume of 6,381,805. The company has a market capitalization of $49.71 billion, a PE ratio of -44.42 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 stock has a 50 day moving average of $171.99 and a 200 day moving average of $151.30. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Scotiabank raised their target price on Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a report on Monday, December 9th. Bank of America boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Loop Capital increased their price target on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Monness Crespi & Hardt raised their price target on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group upped 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. Nine 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $205.08.

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.