Fred Alger Management LLC decreased its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,384 shares of the company's stock after selling 6,617 shares during the quarter. Fred Alger Management LLC's holdings in Snowflake were worth $9,015,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the 4th quarter valued at $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the 4th quarter valued at $31,000. Colonial Trust Co SC acquired a new stake in Snowflake in the 4th quarter valued at $33,000. Quadrant Capital Group LLC boosted its stake in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its stake in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.
Snowflake Stock Up 0.1%
Shares of NYSE:SNOW traded up $0.17 during trading on Friday, hitting $174.14. 2,594,452 shares of the company's stock traded hands, compared to its average volume of 6,405,620. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $57.48 billion, a price-to-earnings ratio of -51.37 and a beta of 1.11. The company has a 50-day moving average price of $153.28 and a 200-day moving average price of $159.39.
Wall Street Analyst Weigh In
Several brokerages recently commented on SNOW. KeyCorp decreased their price target on Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Monness Crespi & Hardt boosted their price objective on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. DA Davidson reduced their price objective on Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays boosted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus boosted their price objective on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $200.28.
Check Out Our Latest Stock Report on SNOW
Insider Activity
In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.
Snowflake Profile
(
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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