Clearbridge Investments LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,057 shares of the company's stock after purchasing an additional 68,158 shares during the quarter. Clearbridge Investments LLC owned 0.36% of Snowflake worth $181,749,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. State Street Corp grew its holdings in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC lifted its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock valued at $475,894,000 after buying an additional 138,663 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 503,968 shares of company stock worth $84,363,550 over the last three months. Company insiders own 7.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on SNOW shares. JMP Securities reissued a "market outperform" rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Needham & Company LLC boosted their target price 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. BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $204.14.
View Our Latest Stock Report on SNOW
Snowflake Trading Up 2.3 %
Shares of NYSE SNOW traded up $3.40 during trading on Tuesday, reaching $149.56. The stock had a trading volume of 3,422,362 shares, compared to its average volume of 6,379,203. 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 market cap of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The business's 50-day moving average price is $171.02 and its 200-day moving average price is $152.07.
Snowflake Company Profile
(
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.
Read More
Before you consider Snowflake, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snowflake wasn't on the list.
While Snowflake currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
