Focus Partners Wealth Has $15.42 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Focus Partners Wealth boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,085 shares of the company's stock after purchasing an additional 22,864 shares during the period. Focus Partners Wealth's holdings in Snowflake were worth $15,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Norges Bank purchased a new position in Snowflake in the fourth quarter valued at about $988,950,000. GQG Partners LLC purchased a new position in Snowflake in the fourth quarter valued at about $750,572,000. Jennison Associates LLC boosted its holdings in 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 purchasing an additional 3,662,671 shares during the last quarter. FMR LLC boosted 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 purchasing an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SNOW shares. Truist Financial reduced their target price on Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Rosenblatt Securities increased their target price on Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. KeyCorp reduced their target price on Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Daiwa Capital Markets started coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price on the stock. 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's stock. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $200.28.

Snowflake Price Performance

Shares of SNOW stock traded up $0.04 during mid-day trading on Friday, hitting $183.01. 3,414,758 shares of the stock traded hands, compared to its average volume of 6,392,270. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm has a market cap of $60.41 billion, a price-to-earnings ratio of -53.98 and a beta of 1.11. The company's 50-day simple moving average is $154.99 and its 200-day simple moving average is $160.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity

In other news, Director Frank Slootman sold 7,016 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the completion of the sale, the director now owns 182,999 shares of the company's stock, valued at $28,491,114.31. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by company insiders.

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.