Snowflake Inc. (NYSE:SNOW) Holdings Lowered by Bridgefront Capital LLC

Bridgefront Capital LLC lessened its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 29.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,449 shares of the company's stock after selling 2,694 shares during the quarter. Bridgefront Capital LLC's holdings in Snowflake were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank acquired a new position in Snowflake during the 4th quarter worth approximately $988,950,000. FMR LLC increased its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares during the last quarter. GQG Partners LLC purchased a new stake in Snowflake during the fourth quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the transaction, the executive vice president now directly owns 580,632 shares of the company's stock, valued at $97,546,176. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 in the last 90 days. Corporate insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent research reports. Jefferies Financial Group decreased their target price on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Truist Financial dropped their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Barclays increased their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Rosenblatt Securities lifted their price objective on Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price objective on Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $200.28.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $0.17 on Friday, hitting $174.14. The company's stock had a trading volume of 2,594,452 shares, compared to its average volume of 6,389,772. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock's 50-day moving average is $153.28 and its two-hundred day moving average is $158.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $57.48 billion, a price-to-earnings ratio of -51.37 and a beta of 1.11.

Snowflake 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.