Prudential PLC Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Prudential PLC lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 326.1% during the fourth quarter, Holdings Channel reports. The fund owned 17,429 shares of the company’s stock after buying an additional 13,339 shares during the quarter. Prudential PLC’s holdings in Snowflake were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in Snowflake by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 33,815 shares of the company’s stock valued at $3,884,000 after acquiring an additional 633 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Snowflake in the 3rd quarter valued at $216,000. Hilltop Holdings Inc. purchased a new stake in Snowflake during the third quarter worth $207,000. Janus Henderson Group PLC boosted its holdings in Snowflake by 4.2% during the third quarter. Janus Henderson Group PLC now owns 25,231 shares of the company’s stock worth $2,898,000 after buying an additional 1,027 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Snowflake by 66.7% during the third quarter. Quantinno Capital Management LP now owns 34,406 shares of the company’s stock valued at $3,952,000 after buying an additional 13,768 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock worth $82,353,709 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 6.8 %

Shares of NYSE:SNOW opened at $130.41 on Friday. The firm has a 50 day simple moving average of $168.97 and a 200-day simple moving average of $152.40. Snowflake Inc. has a twelve month low of $107.13 and a twelve month 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 company has a market capitalization of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNOW shares. Truist Financial lowered their target price on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company raised their price objective on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Bank of America upped their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Mizuho upped their price objective on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $203.05.

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.