Fmr LLC Has $943.16 Million Position in Snowflake Inc. (NYSE:SNOW)

FMR LLC lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 84.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,108,123 shares of the company's stock after buying an additional 2,805,425 shares during the period. FMR LLC owned approximately 1.85% of Snowflake worth $943,155,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new position in Snowflake in the 4th quarter worth $29,000. Quadrant Capital Group LLC increased its position in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter worth about $25,000. Blue Bell Private Wealth Management LLC boosted its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, Perkins Coie Trust Co grew its stake 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 purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were 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 approximately $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by insiders.

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Snowflake Stock Up 0.3 %

Snowflake stock traded up $0.39 during trading hours on Friday, hitting $144.84. The company had a trading volume of 4,084,734 shares, compared to its average volume of 6,451,283. The firm's fifty day moving average is $163.16 and its 200-day moving average is $153.82. The firm has a market capitalization of $47.81 billion, a P/E ratio of -42.72 and a beta of 1.13. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research note on Thursday, February 20th. Finally, Monness Crespi & Hardt raised their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.84.

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.