Korea Investment CORP Buys 120,961 Shares of Snowflake Inc. (NYSE:SNOW)

Korea Investment CORP raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 74.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,576 shares of the company's stock after buying an additional 120,961 shares during the period. Korea Investment CORP owned about 0.09% of Snowflake worth $43,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter valued at $29,000. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter valued at $25,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co lifted its position in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Needham & Company LLC increased their price objective on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Daiwa Capital Markets began coverage on Snowflake in a research report on Tuesday. They set a "buy" rating and a $210.00 target price for the company. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $204.14.

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Insiders Place Their Bets

In related news, Director Frank Slootman sold 127,247 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Shares of Snowflake stock traded up $3.40 during midday trading on Tuesday, hitting $149.56. 3,422,362 shares of the company traded hands, compared to its average volume of 6,379,003. The firm's fifty day moving average price is $171.02 and its 200-day moving average price is $152.07. The stock has a market cap of $49.37 billion, a price-to-earnings ratio of -44.12 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.