Snowflake Inc. (NYSE:SNOW) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,971 shares of the company's stock after purchasing an additional 107,816 shares during the period. Canada Pension Plan Investment Board owned about 0.08% of Snowflake worth $41,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group raised its stake in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock valued at $454,000 after buying an additional 62 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after buying an additional 65 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after acquiring an additional 69 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after acquiring an additional 74 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,342 shares of company stock worth $59,978,513 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of SNOW traded up $9.59 during trading hours on Thursday, reaching $156.98. 2,292,163 shares of the company traded hands, compared to its average volume of 5,635,131. The stock has a fifty day simple moving average of $156.19 and a 200 day simple moving average of $154.97. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market capitalization of $51.82 billion, a PE ratio of -46.21 and a beta of 1.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada boosted 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. Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective on the stock. StockNews.com raised Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Stifel Nicolaus raised their price target on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities boosted their price objective on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

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.