Nomura Asset Management Co. Ltd. increased its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 111.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,133 shares of the company's stock after acquiring an additional 94,433 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.05% of Snowflake worth $27,660,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp increased its position in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC purchased a new stake in shares of Snowflake during the 4th quarter worth $750,572,000. Finally, Geode Capital Management LLC grew its stake in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Price Performance
SNOW traded up $3.40 during trading on Tuesday, reaching $149.56. 3,422,362 shares of the stock were exchanged, compared to its average volume of 6,369,469. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of -44.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business's 50 day moving average price is $171.49 and its two-hundred day moving average price is $151.82.
Wall Street Analysts Forecast Growth
SNOW has been the topic of a number of analyst reports. Truist Financial decreased their price target on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a report on Monday. UBS Group boosted their target price on Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Oppenheimer increased their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. Finally, JMP Securities restated a "market outperform" rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.14.
Read Our Latest Stock Report on Snowflake
Insider Transactions at Snowflake
In other Snowflake news, Director Frank Slootman sold 127,247 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % 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 firm'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 sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,968 shares of company stock valued at $84,363,550 in the last ninety days. Corporate insiders own 7.80% of the company's stock.
Snowflake Company Profile
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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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