Nuveen Asset Management LLC Lowers Position in Snowflake Inc. (NYSE:SNOW)

Nuveen Asset Management LLC trimmed its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 938,730 shares of the company's stock after selling 54,640 shares during the period. Nuveen Asset Management LLC owned 0.28% of Snowflake worth $144,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC boosted its position in shares of 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 in the last quarter. Colonial Trust Co SC purchased a new stake in shares of Snowflake in the 4th quarter worth approximately $33,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in Snowflake by 189.5% during the fourth 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 during the last quarter. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Performance

SNOW opened at $182.90 on Friday. The firm has a market cap of $60.38 billion, a P/E ratio of -53.95 and a beta of 1.11. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a 50 day simple moving average of $154.99 and a two-hundred day simple moving average of $160.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This represents a 2.46% 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 three months. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNOW. Royal Bank of Canada increased their target price on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Needham & Company LLC raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Rosenblatt Securities increased their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $188.00 to $230.00 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, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.28.

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.

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