Dynamic Technology Lab Private Ltd Sells 1,673 Shares of Snowflake Inc. (NYSE:SNOW)

Dynamic Technology Lab Private Ltd lessened its position in Snowflake Inc. (NYSE:SNOW) by 19.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,080 shares of the company’s stock after selling 1,673 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Snowflake were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter valued at about $988,950,000. GQG Partners LLC acquired a new stake in Snowflake in the 4th quarter valued at approximately $750,572,000. Jennison Associates LLC increased its position in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. Groupama Asset Managment lifted its holdings in shares of Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of Snowflake by 1,303.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,719,704 shares of the company’s stock valued at $265,539,000 after acquiring an additional 1,597,148 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock 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 fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $43.05 billion, a P/E ratio of -38.47 and a beta of 1.13.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. KeyCorp upped their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. UBS Group increased their target price on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 over the last 90 days. 7.80% of the stock is owned by 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.