Manchester Global Management UK Ltd Purchases 40,689 Shares of Snowflake Inc. (NYSE:SNOW)

Manchester Global Management UK Ltd boosted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,285 shares of the company's stock after purchasing an additional 40,689 shares during the period. Snowflake comprises approximately 4.7% of Manchester Global Management UK Ltd's holdings, making the stock its 6th largest position. Manchester Global Management UK Ltd owned about 0.07% of Snowflake worth $36,022,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the fourth quarter worth about $29,000. Quadrant Capital Group LLC lifted its position in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co boosted its stake in shares of 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 acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In related news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The shares were 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 represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by insiders.

Snowflake Stock Down 0.3 %

Shares of NYSE:SNOW traded down $0.40 during mid-day trading on Friday, reaching $158.26. 4,161,157 shares of the stock were exchanged, compared to its average volume of 6,426,687. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock's 50 day simple moving average is $155.61 and its 200-day simple moving average is $155.28. The company has a market cap of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNOW. Evercore ISI boosted their target price on Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Loop Capital lifted their price target on Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wedbush set a $210.00 price objective on shares of Snowflake in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

About Snowflake

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.