DnB Asset Management AS Has $8.12 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

DnB Asset Management AS increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,586 shares of the company's stock after buying an additional 2,583 shares during the quarter. DnB Asset Management AS's holdings in Snowflake were worth $8,120,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Toronto Dominion Bank lifted its holdings in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC acquired a new stake in Snowflake during the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after buying an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Snowflake in the fourth quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC increased its holdings in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Price Performance

NYSE SNOW traded up $3.40 on Tuesday, reaching $149.56. The company's stock had a trading volume of 3,422,362 shares, compared to its average volume of 6,369,469. The firm has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07. 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 Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The business has a 50-day moving average price of $171.49 and a 200 day moving average price of $151.82.

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Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 503,968 shares of company stock valued at $84,363,550. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group reduced their target price on Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a report on Monday. Scotiabank raised their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a "sector outperform" rating in a research note on Monday, December 9th. KeyCorp increased their target price on Snowflake from $210.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Citigroup increased their price objective on Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, UBS Group raised their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.14.

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.