Capital International Investors lifted its position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,573 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Capital International Investors owned 0.16% of Snowflake worth $86,064,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Accent Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in Snowflake during the first quarter valued at $31,000. Hartford Financial Management Inc. purchased a new stake in shares of Snowflake during the first quarter worth about $32,000. Future Financial Wealth Managment LLC acquired a new position in shares of Snowflake during the 1st quarter worth about $32,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.
Snowflake Stock Performance
NYSE:SNOW traded down $0.59 during mid-day trading on Friday, reaching $129.00. The stock had a trading volume of 3,377,909 shares, compared to its average volume of 5,308,795. The business has a 50 day simple moving average of $136.95 and a 200 day simple moving average of $165.08. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72. The firm has a market capitalization of $43.19 billion, a price-to-earnings ratio of -46.06 and a beta of 0.85.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on SNOW shares. Canaccord Genuity Group lowered their target price on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Wedbush reissued a “neutral” rating and issued a $210.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Mizuho dropped their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Scotiabank cut their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $197.31.
View Our Latest Stock Analysis on Snowflake
Insider Activity
In related news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the sale, the executive now owns 354,954 shares in the company, valued at approximately $55,571,598.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the transaction, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Insiders sold 533,460 shares of company stock worth $66,963,450 in the last 90 days. 7.80% of the stock is currently owned by corporate 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.
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