Vanguard Group Inc. Decreases Position in Snowflake Inc. (NYSE:SNOW)

Vanguard Group Inc. decreased its position in Snowflake Inc. (NYSE:SNOW) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,877,635 shares of the company’s stock after selling 276,451 shares during the period. Vanguard Group Inc. owned about 8.14% of Snowflake worth $4,150,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Groupama Asset Managment bought a new position in shares of Snowflake during the 3rd quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake during the fourth quarter worth about $29,000. Blue Bell Private Wealth Management LLC increased its stake in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake during the 4th quarter valued at approximately $38,000. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of Snowflake stock opened at $163.36 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The business’s 50 day simple moving average is $172.76 and its two-hundred day simple moving average is $150.25. The stock has a market capitalization of $53.93 billion, a P/E ratio of -48.19 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,968 shares of company stock worth $50,900,550. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SNOW shares. Rosenblatt Securities lifted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Loop Capital increased their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. KeyCorp lifted their target price on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus raised their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.08.

About Snowflake

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.