Legal & General Group Plc trimmed its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,737,150 shares of the company's stock after selling 650,605 shares during the quarter. Legal & General Group Plc owned about 0.53% of Snowflake worth $268,233,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in Snowflake by 406.5% during the 4th quarter. Invesco Ltd. now owns 2,441,112 shares of the company's stock valued at $376,932,000 after purchasing an additional 1,959,137 shares during the period. Employees Retirement System of Texas boosted its position in shares of Snowflake by 300.3% in the fourth quarter. Employees Retirement System of Texas now owns 43,235 shares of the company's stock valued at $6,676,000 after acquiring an additional 32,435 shares during the period. Cerity Partners LLC grew its stake in shares of Snowflake by 15.4% in the fourth quarter. Cerity Partners LLC now owns 62,253 shares of the company's stock worth $9,535,000 after acquiring an additional 8,287 shares during the last quarter. FMR LLC increased its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the period. Finally, Federated Hermes Inc. acquired a new position in Snowflake during the 4th quarter valued at $39,854,000. 65.10% of the stock is owned by institutional investors.
Snowflake Trading Up 1.0 %
Shares of Snowflake stock traded up $1.47 during trading on Monday, reaching $146.43. 859,968 shares of the company were exchanged, compared to its average volume of 6,429,288. The business has a 50-day moving average price of $163.16 and a 200-day moving average price of $153.82. The firm has a market capitalization of $48.34 billion, a price-to-earnings ratio of -43.19 and a beta of 1.13. 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 twelve month low of $107.13 and a twelve month high of $194.40.
Insiders Place Their Bets
In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,589 shares of company stock worth $82,405,796. Insiders own 7.80% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Macquarie initiated coverage on Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 target price on the stock. Needham & Company LLC upped their price target on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Finally, Mizuho upped their target price on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $201.84.
View Our Latest Stock Report on SNOW
About Snowflake
(
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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