Manchester Global Management UK Ltd Has $36.02 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Manchester Global Management UK Ltd boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 21.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,285 shares of the company’s stock after purchasing an additional 40,689 shares during the period. Snowflake comprises 4.7% of Manchester Global Management UK Ltd’s holdings, making the stock its 6th largest position. Manchester Global Management UK Ltd owned approximately 0.07% of Snowflake worth $36,022,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Snowflake during the fourth quarter valued at about $988,950,000. GQG Partners LLC bought a new stake in Snowflake during the fourth quarter valued at $750,572,000. Jennison Associates LLC raised its holdings 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 valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. FMR LLC increased its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in Snowflake by 930,132.6% in the 4th 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. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 4.7 %

NYSE SNOW opened at $136.76 on Tuesday. The stock has a market cap of $45.14 billion, a P/E ratio of -40.34 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a fifty day simple moving average of $158.05 and a two-hundred day simple moving average of $155.12.

Analyst Ratings Changes

SNOW has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Piper Sandler raised their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. KeyCorp reduced their price target on Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC lifted their price objective on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is currently owned by insiders.

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.