MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,511 shares of the company's stock after buying an additional 17,036 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Snowflake were worth $18,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. West Paces Advisors Inc. acquired a new position in Snowflake in the fourth quarter valued at $31,000. Colonial Trust Co SC acquired a new position in Snowflake in the fourth quarter valued at $33,000. Quadrant Capital Group LLC lifted its holdings in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in Snowflake by 189.5% in 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 period. Institutional investors own 65.10% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the transaction, the executive vice president now directly owns 580,632 shares of the company's stock, valued at $97,546,176. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,963 shares of company stock valued at $58,204,058. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNOW. Evercore ISI boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Barclays boosted their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Needham & Company LLC boosted their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, UBS Group upped their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $200.28.

Snowflake Stock Up 0.0%

SNOW stock traded up $0.04 during trading on Friday, reaching $183.01. The stock had a trading volume of 3,414,758 shares, compared to its average volume of 6,416,944. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company's 50 day moving average is $155.65 and its two-hundred day moving average is $161.03. The company has a market capitalization of $60.41 billion, a price-to-earnings ratio of -53.98 and a beta of 1.11.

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.