Manchester Global Management UK Ltd boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233,285 shares of the company's stock after purchasing an additional 40,689 shares during the quarter. Snowflake makes up 4.7% of Manchester Global Management UK Ltd's investment portfolio, making the stock its 6th largest position. Manchester Global Management UK Ltd owned about 0.07% of Snowflake worth $36,022,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC raised its position in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co boosted its position in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Stock Performance
Shares of SNOW traded down $0.40 on Friday, reaching $158.26. The company's stock had a trading volume of 4,161,157 shares, compared to its average volume of 6,426,335. 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 Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a market capitalization of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. The stock's 50 day simple moving average is $154.91 and its two-hundred day simple moving average is $155.84.
Insider Buying and Selling
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $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. In the last three months, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on SNOW shares. DA Davidson reduced their price target on Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group lifted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Evercore ISI increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Stifel Nicolaus increased their target price on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.
Check Out Our Latest Report on SNOW
About Snowflake
(
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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