BNP Paribas Increases Stake in Snowflake Inc. (NYSE:SNOW)

BNP Paribas grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 670.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,316 shares of the company's stock after purchasing an additional 5,496 shares during the quarter. BNP Paribas' holdings in Snowflake were worth $975,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SNOW. Stonebridge Financial Group LLC acquired a new position in Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its position in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares during the last quarter. Finally, Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Up 0.1 %

NYSE:SNOW traded up $0.17 during midday trading on Friday, hitting $174.14. 2,594,452 shares of the company were exchanged, compared to its average volume of 6,405,620. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a market capitalization of $57.48 billion, a PE ratio of -51.37 and a beta of 1.11. 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 fifty day simple moving average of $153.28 and a 200 day simple moving average of $159.08.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Citigroup raised their price target on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Truist Financial lowered their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Evercore ISI raised their price objective on Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $200.28.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the transaction, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. The trade was a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the executive vice president now owns 580,632 shares of the company's stock, valued at approximately $97,546,176. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company's stock.

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.