Snowflake Inc. (NYSE:SNOW) Stock Holdings Cut by Thematics Asset Management

Thematics Asset Management reduced its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,696 shares of the company's stock after selling 69,160 shares during the period. Snowflake makes up 1.9% of Thematics Asset Management's investment portfolio, making the stock its 8th largest holding. Thematics Asset Management owned about 0.09% of Snowflake worth $43,497,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter worth $750,572,000. Jennison Associates LLC raised its holdings in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. FMR LLC lifted its position in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment grew its position in Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after purchasing an additional 1,999,785 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Needham & Company LLC boosted their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wolfe Research upgraded shares of 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 shares of 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. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $200.27.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on 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. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 364,342 shares of company stock valued at $59,978,513 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Up 7.7 %

NYSE:SNOW traded up $11.28 during midday trading on Thursday, hitting $158.67. The stock had a trading volume of 6,847,827 shares, compared to its average volume of 6,416,101. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $52.38 billion, a price-to-earnings ratio of -46.81 and a beta of 1.13. The stock has a 50-day moving average of $156.19 and a 200 day moving average of $154.97.

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.