99,800 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 99,800 shares of the company's stock, valued at approximately $15,410,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $288,000. Independent Advisor Alliance increased its holdings in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company's stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Snowflake during the fourth quarter worth $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of SNOW stock traded down $6.38 during trading hours on Friday, reaching $150.60. 4,647,822 shares of the company's stock were exchanged, compared to its average volume of 6,381,803. 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 company's 50 day moving average is $171.99 and its two-hundred day moving average is $151.02. The company has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

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Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 552,930 shares of the company's stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNOW shares. Citigroup increased their target price on Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Loop Capital increased their price target on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Rosenblatt Securities upped their price target on Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research report on Thursday, February 20th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average price target 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.