Vanguard Group Inc. lowered its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,877,635 shares of the company's stock after selling 276,451 shares during the quarter. Vanguard Group Inc. owned approximately 8.14% of Snowflake worth $4,150,176,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $288,000. Independent Advisor Alliance lifted its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company's stock worth $468,000 after buying an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after buying an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake in the fourth quarter valued at $5,851,000. Institutional investors and hedge funds own 65.10% of the company's stock.
Snowflake Price Performance
Shares of Snowflake stock traded down $6.38 on Friday, hitting $150.60. The company's stock had a trading volume of 4,647,822 shares, compared to its average volume of 6,381,803. The company has a market capitalization of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a fifty day moving average price of $171.99 and a 200-day moving average price of $151.02. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Analysts Set New Price Targets
SNOW has been the topic of a number of research analyst reports. Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the stock a "sector outperform" rating in a research report on Monday, December 9th. Canaccord Genuity Group lifted their price target on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Needham & Company LLC increased their price objective on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Piper Sandler lifted their target price on shares of Snowflake from $208.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Citigroup increased their price target on shares of Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $205.08.
View Our Latest Report on SNOW
Insiders Place Their Bets
In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction 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. This trade represents a 50.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 603,968 shares of company stock worth $99,863,550. Insiders own 7.80% of the company's stock.
About Snowflake
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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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