Northwestern Mutual Wealth Management Co. Grows Holdings in Snowflake Inc. $SNOW

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Snowflake Inc. by 6.6% in the first quarter, owning 52,009 shares valued at approximately $7.6 million.
• Multiple institutional investors, including Allstate Corp and RPG Investment Advisory LLC, also raised their positions in Snowflake during the first quarter, indicating growing confidence in the company.
• Snowflake's stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $230.22 and a 52-week high of $229.27.

Northwestern Mutual Wealth Management Co. lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,009 shares of the company's stock after buying an additional 3,222 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Snowflake were worth $7,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allstate Corp grew its position in shares of Snowflake by 22.6% in the 1st quarter. Allstate Corp now owns 10,919 shares of the company's stock worth $1,596,000 after buying an additional 2,012 shares during the period. Kestra Advisory Services LLC grew its position in shares of Snowflake by 7.3% in the 1st quarter. Kestra Advisory Services LLC now owns 28,262 shares of the company's stock worth $4,131,000 after buying an additional 1,929 shares during the period. RPG Investment Advisory LLC grew its position in shares of Snowflake by 133.9% in the 1st quarter. RPG Investment Advisory LLC now owns 55,498 shares of the company's stock worth $8,112,000 after buying an additional 31,774 shares during the period. Circle Wealth Management LLC grew its position in shares of Snowflake by 39.5% in the 1st quarter. Circle Wealth Management LLC now owns 24,446 shares of the company's stock worth $3,573,000 after buying an additional 6,916 shares during the period. Finally, Compound Planning Inc. purchased a new stake in shares of Snowflake in the 1st quarter worth about $324,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

SNOW opened at $194.63 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $64.98 billion, a P/E ratio of -46.23 and a beta of 1.22. The company's 50-day simple moving average is $210.53 and its two-hundred day simple moving average is $185.04. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNOW shares. CICC Research started coverage on shares of Snowflake in a research report on Friday, June 20th. They issued an "outperform" rating and a $225.00 target price on the stock. Stephens initiated coverage on shares of Snowflake in a research report on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Jefferies Financial Group increased their price objective on shares of Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Barclays reissued an "overweight" rating and set a $219.00 price objective (up from $203.00) on shares of Snowflake in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $230.22.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the transaction, the director owned 37,796 shares in the company, valued at approximately $7,988,184.60. This represents a 57.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the transaction, the director owned 165,507 shares in the company, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,516,826 shares of company stock worth $555,691,052 in the last 90 days. Company insiders own 6.80% of the company's stock.

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.

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