Pictet Asset Management Holding SA Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Pictet Asset Management Holding SA boosted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 1,303.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,719,704 shares of the company's stock after acquiring an additional 1,597,148 shares during the period. Pictet Asset Management Holding SA owned 0.52% of Snowflake worth $265,539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth $29,000. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth about $25,000. Blue Bell Private Wealth Management LLC boosted its stake in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position 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 valued at $38,000 after buying an additional 230 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction 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 approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares in the company, valued at $28,345,319.64. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several brokerages recently commented on SNOW. Loop Capital boosted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Jefferies Financial Group decreased their price target on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a report on Monday. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Piper Sandler boosted their target price on Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Mizuho raised 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. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $204.14.

Snowflake Stock Up 1.3 %

Shares of SNOW stock traded up $1.85 during midday trading on Tuesday, reaching $148.01. 1,374,235 shares of the stock were exchanged, compared to its average volume of 5,774,318. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market cap of $48.86 billion, a PE ratio of -43.66 and a beta of 1.07. The company's 50 day moving average is $171.49 and its two-hundred day moving average is $151.82. 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 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.