Groupama Asset Managment Raises Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Groupama Asset Managment raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 930,132.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,000,000 shares of the company's stock after buying an additional 1,999,785 shares during the quarter. Snowflake accounts for 2.3% of Groupama Asset Managment's portfolio, making the stock its 9th largest position. Groupama Asset Managment owned about 0.61% of Snowflake worth $308,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the fourth quarter valued at $29,000. Blue Bell Private Wealth Management LLC increased its holdings 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 valued at $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co lifted its position 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 purchasing an additional 139 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after purchasing an additional 230 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake during the fourth quarter valued at approximately $38,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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Snowflake Price Performance

NYSE SNOW traded up $4.69 during trading on Wednesday, reaching $154.23. 5,960,858 shares of the company traded hands, compared to its average volume of 6,380,442. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market cap of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. The stock's 50 day moving average price is $170.55 and its two-hundred day moving average price is $152.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SNOW shares. Monness Crespi & Hardt increased their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. 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. Bank of America raised their price target on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Loop Capital boosted their price target on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Citigroup raised their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $203.05.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The shares were 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 directly owns 552,930 shares of the company's stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 503,968 shares of company stock worth $84,363,550 in the last 90 days. 7.80% of the stock is owned by company insiders.

About Snowflake

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.