Snowflake Inc. (NYSE:SNOW) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in Snowflake Inc. (NYSE:SNOW) by 1,303.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,719,704 shares of the company’s stock after purchasing an additional 1,597,148 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.52% of Snowflake worth $265,539,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC raised its stake in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group grew its holdings in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after buying an additional 74 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after acquiring an additional 90 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Snowflake stock opened at $157.01 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. 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 stock has a market cap of $51.83 billion, a P/E ratio of -46.31 and a beta of 1.07. The stock has a 50 day moving average of $172.39 and a 200-day moving average of $150.74.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’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 in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on 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 completion of the transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 603,968 shares of company stock worth $99,863,550 in the last ninety days. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on SNOW. Mizuho boosted their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup increased their target price on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Finally, UBS Group raised their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued 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 a consensus rating of “Moderate Buy” and a consensus 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.