1,876 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Krane Funds Advisors LLC

Krane Funds Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,876 shares of the company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new position in Snowflake during the 4th quarter valued at $750,572,000. Jennison Associates LLC boosted its holdings in 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 purchasing an additional 3,662,671 shares during the period. FMR LLC grew its position in Snowflake by 84.9% in the 4th 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 increased its holdings in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $130.41 on Monday. 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 P/E ratio of -38.47 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a 50 day moving average of $168.97 and a 200-day moving average of $152.70.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 in the last quarter. 7.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. Needham & Company LLC increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price target on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Citigroup raised their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Macquarie assumed coverage on shares of Snowflake in a research note on Wednesday, April 2nd. They issued a “neutral” rating and a $160.00 target price on the stock. Finally, Barclays raised their price target on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.