Raiffeisen Bank International AG Takes $738,000 Position in Snowflake Inc. (NYSE:SNOW)

Raiffeisen Bank International AG bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,751 shares of the company's stock, valued at approximately $738,000.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new stake in Snowflake in the 4th quarter worth $988,950,000. FMR LLC increased its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter worth $750,572,000. Finally, Geode Capital Management LLC increased its holdings in Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after acquiring an additional 15,314 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a report on Tuesday, February 18th. Mizuho set a $205.00 price target on shares of Snowflake in a report on Wednesday. Loop Capital lifted their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $201.00 target price on shares of Snowflake in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.00.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the transaction, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,963 shares of company stock worth $58,204,058. Company insiders own 7.80% of the company's stock.

Snowflake Stock Down 2.0%

Shares of SNOW stock traded down $3.60 during trading hours on Wednesday, reaching $179.28. 10,447,020 shares of the stock were exchanged, compared to its average volume of 6,425,853. The business's fifty day moving average is $156.90 and its two-hundred day moving average is $162.25. 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 firm has a market capitalization of $59.18 billion, a P/E ratio of -52.89 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($1.13). Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Company 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.