Voya Investment Management LLC Acquires 565,561 Shares of Snowflake Inc. (NYSE:SNOW)

Voya Investment Management LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 157.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 925,817 shares of the company's stock after acquiring an additional 565,561 shares during the quarter. Voya Investment Management LLC owned 0.28% of Snowflake worth $142,955,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Prospect Financial Services LLC bought a new position in Snowflake during the 4th quarter valued at $288,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Snowflake by 1.3% during the fourth 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. Bourgeon Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth about $5,851,000. Stephens Consulting LLC lifted its holdings in Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its position in shares of Snowflake by 40.1% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the firm's 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 sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business's 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 completion of the transaction, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,342 shares of company stock worth $59,978,513 in the last quarter. Corporate insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Oppenheimer raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Royal Bank of Canada lifted 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. KeyCorp decreased their price objective on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake Trading Down 0.3 %

Shares of SNOW stock traded down $0.40 during trading hours on Friday, reaching $158.26. The company had a trading volume of 4,161,157 shares, compared to its average volume of 6,426,335. Snowflake Inc. has a 1-year low of $107.13 and a 1-year 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. The firm has a market cap of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13. The company has a 50 day moving average of $154.91 and a 200 day moving average of $156.06.

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.