Snowflake Inc. (NYSE:SNOW) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 124.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,968,755 shares of the company's stock after purchasing an additional 2,200,406 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.20% of Snowflake worth $612,817,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNOW. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the fourth quarter worth about $29,000. Quadrant Capital Group LLC lifted its position in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In related news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the transaction, the executive vice president now owns 590,632 shares of the company's stock, valued at approximately $94,501,120. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,342 shares of company stock worth $61,578,513 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 1.7 %

Snowflake stock traded down $2.73 during trading on Wednesday, reaching $157.62. 1,133,365 shares of the company's stock were exchanged, compared to its average volume of 6,376,662. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of -46.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company's 50-day moving average is $153.86 and its two-hundred day moving average is $156.33.

Wall Street Analyst Weigh In

A number of analysts have commented on SNOW shares. Needham & Company LLC boosted their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. KeyCorp lowered their price objective on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company dropped 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. DA Davidson reduced their price target on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler dropped their price objective on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $200.27.

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.