Nicholas Company Inc. Purchases 77,565 Shares of Snowflake Inc. (NYSE:SNOW)

Nicholas Company Inc. lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,750 shares of the company's stock after purchasing an additional 77,565 shares during the period. Nicholas Company Inc. owned 0.09% of Snowflake worth $45,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SNOW. Jennison Associates LLC boosted its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. Two Sigma Advisers LP grew its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after buying an additional 881,700 shares in the last quarter. Raymond James Financial Inc. bought a new position in Snowflake during the 4th quarter worth $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company's stock valued at $61,439,000 after acquiring an additional 333,500 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company's stock, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,429 shares of company stock valued at $50,065,812. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, JMP Securities restated a "market outperform" rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.08.

Snowflake Stock Up 0.8 %

NYSE:SNOW traded up $1.27 during trading hours on Thursday, reaching $157.23. The company had a trading volume of 2,712,373 shares, compared to its average volume of 6,368,012. The business's 50-day simple moving average is $172.91 and its two-hundred day simple moving average is $148.98. Snowflake Inc. has a twelve month low of $107.13 and a twelve month 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 has a market cap of $51.90 billion, a price-to-earnings ratio of -46.38 and a beta of 1.07.

Snowflake 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.