iA Global Asset Management Inc. Invests $6.98 Million in Snowflake Inc. (NYSE:SNOW)

iA Global Asset Management Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,170 shares of the company's stock, valued at approximately $6,975,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its stake in Snowflake by 782.2% in the fourth quarter. Teacher Retirement System of Texas now owns 17,793 shares of the company's stock valued at $2,747,000 after acquiring an additional 15,776 shares during the last quarter. Royal London Asset Management Ltd. increased its position in shares of Snowflake by 2.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 148,192 shares of the company's stock valued at $22,882,000 after purchasing an additional 4,080 shares during the last quarter. Trivest Advisors Ltd purchased a new position in shares of Snowflake during the 4th quarter valued at about $41,073,000. Kazazian Asset Management LLC bought a new stake in Snowflake in the 4th quarter worth approximately $1,266,000. Finally, Generali Investments Management Co LLC bought a new position in Snowflake during the fourth quarter valued at approximately $1,624,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 0.2 %

Shares of Snowflake stock traded down $0.31 on Tuesday, reaching $162.86. The company's stock had a trading volume of 3,375,037 shares, compared to its average volume of 6,330,792. The company has a market capitalization of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm's fifty day simple moving average is $172.76 and its two-hundred day simple moving average is $150.25.

Remove Ads

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent research reports. Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Monness Crespi & Hardt upped their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. KeyCorp raised their price objective on Snowflake from $210.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their price target on Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.08.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the 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 directly owns 552,930 shares of the company's stock, valued at $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company's stock, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,968 shares of company stock worth $50,900,550. Company insiders own 7.80% of the company's stock.

Snowflake 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.