Winslow Capital Management LLC Buys Shares of 1,118,339 Snowflake Inc. (NYSE:SNOW)

Winslow Capital Management LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,118,339 shares of the company's stock, valued at approximately $172,683,000. Winslow Capital Management LLC owned 0.34% of Snowflake at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $750,572,000. Jennison Associates LLC increased its position in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC boosted its position in Snowflake by 84.9% in the fourth 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 increased 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 worth $308,820,000 after buying an additional 1,999,785 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of NYSE:SNOW traded up $0.25 on Monday, hitting $145.21. The company had a trading volume of 1,041,642 shares, compared to its average volume of 6,429,933. 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 company has a market cap of $47.93 billion, a PE ratio of -42.83 and a beta of 1.13. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The business has a 50 day moving average of $163.16 and a 200 day moving average of $153.82.

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Insiders Place Their Bets

In other news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were 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 directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock valued at $82,405,796 in the last ninety days. Insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler lifted their price target on Snowflake from $208.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Rosenblatt Securities upped their target price on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Jefferies Financial Group cut their target price on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Loop Capital increased their target price on Snowflake from $205.00 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 given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.84.

Snowflake Company 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.