Monolith Management Ltd acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,000 shares of the company's stock, valued at approximately $5,868,000. Snowflake comprises about 3.0% of Monolith Management Ltd's portfolio, making the stock its 13th largest position.
Several other institutional investors have also recently made changes to their positions in the business. Westside Investment Management Inc. lifted its holdings in shares of Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock valued at $1,438,000 after buying an additional 3,971 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in shares of Snowflake by 50.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock valued at $535,000 after purchasing an additional 1,559 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at $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 buying an additional 1,352 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock valued at $66,086,000 after buying an additional 7,373 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on SNOW. Truist Financial cut their price target on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Barclays upped their price target on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group raised their target price on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. 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, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.
Read Our Latest Analysis on SNOW
Insider Transactions at Snowflake
In related news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the 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 transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 364,342 shares of company stock worth $59,978,513. Insiders own 7.80% of the company's stock.
Snowflake Stock Performance
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 6,426,335. The stock has a market capitalization of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a 50 day simple moving average of $154.91 and a 200-day simple moving average of $156.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
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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