Invesco Ltd. increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 406.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,441,112 shares of the company's stock after purchasing an additional 1,959,137 shares during the period. Invesco Ltd. owned 0.74% of Snowflake worth $376,932,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter worth approximately $988,950,000. FMR LLC grew its position in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC bought a new position in Snowflake during the fourth quarter valued at about $750,572,000. Finally, Geode Capital Management LLC raised its stake in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The stock was 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 in the company, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is currently owned by insiders.
Snowflake Trading Up 1.6 %
Shares of NYSE:SNOW traded up $2.26 during mid-day trading on Tuesday, reaching $146.81. 809,868 shares of the company's stock were exchanged, compared to its average volume of 6,414,511. The business's fifty day moving average price is $162.27 and its 200-day moving average price is $154.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $48.46 billion, a price-to-earnings ratio of -43.31 and a beta of 1.13. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.
Analyst Ratings Changes
A number of research analysts have recently issued reports on SNOW shares. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Mizuho lifted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Finally, Evercore ISI boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average target price of $202.51.
Check Out Our Latest Stock Analysis on SNOW
Snowflake Profile
(
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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