Snowflake Inc. (NYSE:SNOW) Stake Raised by Prudential Financial Inc.

Prudential Financial Inc. boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 2,814.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,824 shares of the company's stock after acquiring an additional 268,290 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Snowflake worth $42,899,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock valued at $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in Snowflake in the 4th quarter valued at about $288,000. Independent Advisor Alliance boosted its position in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company's stock valued at $468,000 after buying an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $5,851,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SNOW shares. Mizuho increased their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Oppenheimer lifted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Royal Bank of Canada increased their price objective on shares of Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, Rosenblatt Securities upped their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average price target of $205.08.

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Snowflake Price Performance

Shares of SNOW stock traded down $6.38 during mid-day trading on Friday, hitting $150.60. 4,647,822 shares of the stock traded hands, compared to its average volume of 6,381,805. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company's 50-day simple moving average is $171.99 and its 200-day simple moving average is $151.58. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 603,968 shares of company stock valued at $99,863,550 over the last 90 days. 7.80% of the stock is currently 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.