Sei Investments Co. Purchases 273,727 Shares of Snowflake Inc. (NYSE:SNOW)

Sei Investments Co. raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 207.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 405,822 shares of the company's stock after purchasing an additional 273,727 shares during the quarter. Sei Investments Co. owned 0.12% of Snowflake worth $62,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Groupama Asset Managment purchased a new stake in shares of Snowflake in the 3rd quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter valued at about $29,000. Blue Bell Private Wealth Management LLC increased its position in Snowflake by 189.5% in the fourth 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 in the last quarter. Perkins Coie Trust Co increased its position 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 buying an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Snowflake in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company's 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. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,968 shares of company stock worth $50,900,550 over the last 90 days. Company insiders own 7.80% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer lifted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Wedbush set a $210.00 target price on shares of Snowflake in a research note on Wednesday, January 22nd. Finally, KeyCorp increased their price target on Snowflake from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.08.

Snowflake Trading Down 1.7 %

Shares of SNOW stock traded down $2.73 during trading hours on Thursday, reaching $157.01. 2,645,480 shares of the stock were exchanged, compared to its average volume of 6,313,386. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of -46.31 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company's 50-day moving average price is $172.61 and its 200-day moving average price is $150.69. 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 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.