Pinebridge Investments L.P. Purchases 19,867 Shares of Snowflake Inc. (NYSE:SNOW)

Pinebridge Investments L.P. lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,465 shares of the company's stock after purchasing an additional 19,867 shares during the period. Pinebridge Investments L.P.'s holdings in Snowflake were worth $10,726,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new position in Snowflake during the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC increased its stake in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in shares of Snowflake by 189.5% during the fourth 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 in the last quarter. Perkins Coie Trust Co lifted its stake in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake in the fourth quarter valued at $38,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Oppenheimer upped their target price on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Evercore ISI increased 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. Wells Fargo & Company dropped their price target on Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average price target of $200.27.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction 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 $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 364,342 shares of company stock worth $59,978,513 in the last quarter. Company insiders own 7.80% of the company's stock.

Snowflake Stock Performance

SNOW stock traded down $0.40 during trading on Friday, reaching $158.26. The stock had a trading volume of 4,161,157 shares, compared to its average volume of 6,426,335. The stock's 50 day moving average is $154.91 and its two-hundred day moving average is $155.84. The firm has a market cap of $52.24 billion, a PE ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake Company 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.