Sagespring Wealth Partners LLC Acquires Shares of 2,698 Snowflake Inc. (NYSE:SNOW)

Sagespring Wealth Partners LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,698 shares of the company's stock, valued at approximately $417,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Snowflake in the 4th quarter valued at about $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC raised its position in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. FMR LLC lifted its holdings in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in shares of Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after buying an additional 1,999,785 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Barclays lifted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC raised their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $201.76.

Snowflake Stock Down 1.9 %

Shares of NYSE:SNOW traded down $2.74 during trading on Friday, hitting $143.34. 2,483,780 shares of the company were exchanged, compared to its average volume of 6,421,229. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $159.07 and a two-hundred day moving average price of $154.35.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the 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 completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by corporate insiders.

Snowflake 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.