Prudential PLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 326.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,429 shares of the company's stock after acquiring an additional 13,339 shares during the period. Prudential PLC's holdings in Snowflake were worth $2,691,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment bought a new position in Snowflake during the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the 4th quarter valued at $29,000. Blue Bell Private Wealth Management LLC boosted its stake in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co grew its holdings in shares of 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 purchased a new stake in Snowflake during the fourth quarter valued at $38,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Snowflake Trading Up 0.3 %
Shares of SNOW traded up $0.39 during trading hours on Friday, reaching $144.84. 4,084,734 shares of the company traded hands, compared to its average volume of 6,444,161. The firm has a market cap of $47.81 billion, a price-to-earnings ratio of -42.72 and a beta of 1.13. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The stock's fifty day moving average price is $163.16 and its 200 day moving average price is $153.53. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on SNOW shares. Citigroup boosted their price target on Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Piper Sandler increased their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Truist Financial lowered their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $183.00 target price on shares of Snowflake in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $201.84.
Read Our Latest Analysis on SNOW
Insider Buying and Selling at Snowflake
In other news, Director Frank Slootman sold 127,247 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock valued at $82,405,796 in the last three months. Company insiders own 7.80% of the company's stock.
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.
Further Reading
Before you consider Snowflake, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snowflake wasn't on the list.
While Snowflake currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
