Snowflake Inc. (NYSE:SNOW) Stock Holdings Raised by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,177,057 shares of the company’s stock after purchasing an additional 68,158 shares during the period. Clearbridge Investments LLC owned about 0.36% of Snowflake worth $181,749,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC grew its position in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. State Street Corp lifted its stake in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Norges Bank acquired a new position in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC raised its holdings in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. This represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 503,968 shares of company stock valued at $84,363,550. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW opened at $150.60 on Monday. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a 50-day moving average of $171.99 and a two-hundred day moving average of $151.58. 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 stock has a market cap of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Truist Financial reiterated 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. Citigroup raised their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. UBS Group upped their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Scotiabank raised their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Bank of America upped their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. 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 company’s stock. According to data from MarketBeat, the company presently has an average 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.