Townsquare Capital LLC lowered its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 114,726 shares of the company's stock after selling 160,444 shares during the period. Townsquare Capital LLC's holdings in Snowflake were worth $17,715,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter valued at about $988,950,000. GQG Partners LLC purchased a new position in shares of Snowflake in the fourth quarter worth $750,572,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. FMR LLC lifted its stake in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, Groupama Asset Managment grew its holdings in shares of Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Institutional investors own 65.10% of the company's stock.
Insider Buying and Selling at Snowflake
In other news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 195,281 shares of the company's stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock worth $82,405,796 in the last three months. 7.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
SNOW has been the subject of a number of research reports. Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Stifel Nicolaus upped their target price on Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Rosenblatt Securities lifted their price objective 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. Finally, Needham & Company LLC increased their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Ten 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's stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $202.51.
View Our Latest Analysis on SNOW
Snowflake Price Performance
Shares of SNOW stock traded up $2.04 during trading hours on Tuesday, reaching $146.59. The company had a trading volume of 2,381,015 shares, compared to its average volume of 6,422,453. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of -43.24 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 stock has a fifty day moving average of $161.48 and a 200-day moving average of $153.98.
Snowflake Profile
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Free Report)
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.
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