Russell Investments Group Ltd. Grows Position in Snowflake Inc. (NYSE:SNOW)

Russell Investments Group Ltd. raised its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 587.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,820 shares of the company's stock after acquiring an additional 171,612 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Snowflake worth $31,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SNOW. Asset Dedication LLC lifted its holdings in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group grew its position in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after buying an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after purchasing an additional 69 shares during the period. Larson Financial Group LLC increased its holdings in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after buying an additional 74 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in shares of Snowflake by 3.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company's stock worth $406,000 after acquiring an additional 77 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock valued at $82,405,796 over the last three months. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Up 0.3 %

NYSE SNOW traded up $0.39 during trading on Friday, reaching $144.84. 4,084,734 shares of the company's stock were exchanged, compared to its average volume of 6,451,283. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market cap of $47.81 billion, a P/E ratio of -42.72 and a beta of 1.13. 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 has a 50 day moving average price of $163.16 and a two-hundred day moving average price of $153.82.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Rosenblatt Securities upped their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Canaccord Genuity Group raised their target price on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Finally, Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective for the company in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $201.84.

Snowflake Company 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.