Stifel Financial Corp Has $8.87 Million Stake in Snowflake Inc. (NYSE:SNOW)

Stifel Financial Corp lowered its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,422 shares of the company's stock after selling 5,962 shares during the period. Stifel Financial Corp's holdings in Snowflake were worth $8,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Snowflake during the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake during the fourth quarter worth $750,572,000. Jennison Associates LLC grew its holdings 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 buying an additional 3,662,671 shares during the period. FMR LLC increased its position in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment raised its stake in Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock worth $308,820,000 after buying an additional 1,999,785 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $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. In the last three months, insiders sold 364,342 shares of company stock worth $59,978,513. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Down 0.3 %

Shares of SNOW stock opened at $158.26 on Monday. The stock has a market cap of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $154.91 and a 200 day simple moving average of $156.06.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Monness Crespi & Hardt boosted their target price on Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Truist Financial lowered their target price on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler lowered their price objective on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their target price on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $200.27.

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.

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