Marshall Wace LLP Sells 1,355,783 Shares of Snowflake Inc. (NYSE:SNOW)

Marshall Wace LLP reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 86.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,379 shares of the company's stock after selling 1,355,783 shares during the quarter. Marshall Wace LLP owned 0.07% of Snowflake worth $33,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNOW. Westside Investment Management Inc. boosted its holdings in Snowflake by 47.4% during the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock worth $1,438,000 after purchasing an additional 3,971 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after purchasing an additional 1,559 shares during the last quarter. Blankinship & Foster LLC purchased a new position in Snowflake during the third quarter worth about $896,000. Synovus Financial Corp boosted its holdings in Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock worth $698,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after purchasing an additional 7,373 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were 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 owns 292,610 shares in the company, 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. In the last quarter, insiders sold 364,342 shares of company stock valued at $59,978,513. Insiders own 7.80% of the company's stock.

Snowflake Trading Up 6.3 %

Shares of NYSE SNOW traded up $9.25 during midday trading on Thursday, reaching $156.64. The company had a trading volume of 2,238,852 shares, compared to its average volume of 6,398,749. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. 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 firm's fifty day moving average price is $156.19 and its 200-day moving average price is $154.97. The stock has a market cap of $51.71 billion, a PE ratio of -46.04 and a beta of 1.13.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNOW. Jefferies Financial Group reduced their target price on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Barclays increased their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Wolfe Research raised shares of 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, Bank of America boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average 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.