MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in Snowflake Inc. (NYSE:SNOW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 16.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 118,511 shares of the company’s stock after buying an additional 17,036 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Snowflake were worth $18,300,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC boosted its stake in Snowflake by 17.5% in the 4th quarter. Lazard Asset Management LLC now owns 13,658 shares of the company’s stock worth $2,108,000 after buying an additional 2,034 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Snowflake during the 4th quarter worth about $3,138,000. LRI Investments LLC boosted its position in shares of Snowflake by 401.6% in the fourth quarter. LRI Investments LLC now owns 923 shares of the company’s stock worth $143,000 after acquiring an additional 739 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Snowflake by 1,444.8% in the fourth quarter. Janus Henderson Group PLC now owns 389,756 shares of the company’s stock valued at $60,215,000 after purchasing an additional 364,525 shares during the period. Finally, Jefferies Financial Group Inc. increased its position in Snowflake by 139.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock worth $947,000 after purchasing an additional 3,577 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Daiwa America upgraded Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. DA Davidson cut their price objective on Snowflake from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $183.00 target price on shares of Snowflake in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $200.28.

Snowflake Price Performance

SNOW stock opened at $180.37 on Thursday. The stock’s 50 day moving average is $154.28 and its two-hundred day moving average is $160.13. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a market capitalization of $59.54 billion, a PE ratio of -53.21 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

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.