Royal London Asset Management Ltd. grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,192 shares of the company's stock after purchasing an additional 4,080 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Snowflake were worth $22,882,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Trivest Advisors Ltd bought a new stake in Snowflake during the fourth quarter worth $41,073,000. Kazazian Asset Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $1,266,000. Generali Investments Management Co LLC acquired a new stake in Snowflake in the 4th quarter valued at about $1,624,000. Harvest Fund Management Co. Ltd bought a new position in Snowflake during the fourth quarter worth about $875,000. Finally, Vinva Investment Management Ltd increased its position in Snowflake by 59.7% during the fourth quarter. Vinva Investment Management Ltd now owns 14,989 shares of the company's stock worth $2,323,000 after buying an additional 5,605 shares during the last quarter. Institutional investors own 65.10% of the company's stock.
Analyst Upgrades and Downgrades
SNOW has been the subject of a number of recent analyst reports. Bank of America raised their price objective on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. JMP Securities reaffirmed a "market outperform" rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Citigroup lifted their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Finally, BTIG Research upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. Nine 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.08.
Get Our Latest Analysis on Snowflake
Snowflake Trading Down 2.2 %
NYSE SNOW traded down $3.65 during trading hours on Wednesday, reaching $159.18. The company's stock had a trading volume of 3,451,685 shares, compared to its average volume of 5,918,716. The firm has a fifty day simple moving average of $172.75 and a 200-day simple moving average of $150.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market cap of $52.55 billion, a P/E ratio of -46.96 and a beta of 1.07.
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 Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now owns 311,999 shares in the company, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 100,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares of the company's stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is currently owned by company insiders.
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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