Proficio Capital Partners LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,889 shares of the company's stock, valued at approximately $8,321,000.
Several other large investors also recently modified their holdings of the stock. Jennison Associates LLC grew its holdings 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 valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in 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 acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC lifted its position in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock valued at $475,894,000 after acquiring an additional 138,663 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.
Snowflake Price Performance
Shares of Snowflake stock traded up $1.53 during trading on Wednesday, hitting $155.89. 3,823,126 shares of the stock traded hands, compared to its average volume of 6,383,710. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of -45.98 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm's fifty day moving average is $173.01 and its 200-day moving average is $148.93.
Insider Buying and Selling at Snowflake
In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 861 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $165.31, for a total value of $142,331.91. Following the transaction, the executive vice president now directly owns 582,930 shares in the company, valued at $96,364,158.30. This trade represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 287,648 shares of company stock worth $48,387,318 over the last ninety days. Insiders own 7.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Cantor Fitzgerald upped their price target on Snowflake from $201.00 to $228.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Loop Capital raised their price target on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Finally, Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $202.92.
Check Out Our Latest Stock Report on SNOW
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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