DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 65.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 70,286 shares of the company's stock after purchasing an additional 27,808 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Snowflake were worth $10,853,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in SNOW. Element Pointe Advisors LLC purchased a new stake in Snowflake during the 4th quarter valued at $603,000. Colonial Trust Co SC purchased a new stake in Snowflake during the 4th quarter valued at $33,000. Concentric Capital Strategies LP raised its stake in Snowflake by 43.6% during the 4th quarter. Concentric Capital Strategies LP now owns 39,341 shares of the company's stock valued at $6,075,000 after buying an additional 11,936 shares during the last quarter. CoreCap Advisors LLC raised its stake in Snowflake by 165.7% during the 4th quarter. CoreCap Advisors LLC now owns 271 shares of the company's stock valued at $42,000 after buying an additional 169 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Snowflake by 18.5% during the 4th quarter. Cresset Asset Management LLC now owns 34,088 shares of the company's stock valued at $5,264,000 after buying an additional 5,324 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the transaction, the director now owns 25,972 shares of the company's stock, valued at approximately $4,363,555.72. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 in the last three months. Corporate insiders own 7.80% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on SNOW shares. Daiwa Capital Markets started coverage on shares of Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Wedbush set a $210.00 price objective on shares of Snowflake in a research note on Wednesday, January 22nd. Canaccord Genuity Group lifted their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price target 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. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $200.28.
Read Our Latest Report on SNOW
Snowflake Price Performance
Shares of SNOW stock traded up $1.70 on Thursday, hitting $183.15. 1,678,640 shares of the stock traded hands, compared to its average volume of 6,389,624. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of -54.02 and a beta of 1.11. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm has a 50 day simple moving average of $154.28 and a two-hundred day simple moving average of $160.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.
Snowflake Profile
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Free Report)
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.
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