UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 317,697 Shares of Snowflake Inc. (NYSE:SNOW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,253,476 shares of the company's stock after acquiring an additional 317,697 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.68% of Snowflake worth $347,959,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BTIG Research restated a "buy" rating on shares of Snowflake in a research note on Thursday. Daiwa Capital Markets initiated coverage on Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. Jefferies Financial Group raised their price target on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday. DA Davidson raised their price objective on shares of Snowflake from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Raymond James reaffirmed an "outperform" rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $217.33.

Snowflake Stock Down 1.6%

NYSE SNOW traded down $3.19 on Friday, reaching $199.99. The stock had a trading volume of 11,901,781 shares, compared to its average volume of 6,474,139. The business has a 50 day moving average price of $159.20 and a 200 day moving average price of $163.86. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $205.40. The company has a market capitalization of $66.02 billion, a price-to-earnings ratio of -58.99 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 over the last ninety days. 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.