Snowflake Inc. (NYSE:SNOW) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its position in Snowflake Inc. (NYSE:SNOW) by 2,814.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 277,824 shares of the company’s stock after buying an additional 268,290 shares during the quarter. Prudential Financial Inc.’s holdings in Snowflake were worth $42,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in shares of Snowflake in the fourth quarter worth $288,000. Independent Advisor Alliance raised its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake during the 4th quarter worth $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,968 shares of company stock valued at $50,900,550 over the last three months. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SNOW shares. Truist Financial restated a “buy” rating and set a $225.00 price objective (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Royal Bank of Canada boosted their target price on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Monness Crespi & Hardt raised their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Down 0.2 %

Shares of Snowflake stock opened at $162.86 on Wednesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock has a market capitalization of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. 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 business’s 50 day simple moving average is $172.75 and its 200-day simple moving average is $150.63.

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.