OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.70 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 75.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,500 shares of the company's stock after purchasing an additional 7,500 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Snowflake were worth $2,702,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at $31,000. Colonial Trust Co SC purchased a new stake in Snowflake during the 4th quarter worth about $33,000. Quadrant Capital Group LLC boosted 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 purchasing an additional 91 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Snowflake by 189.5% in the 4th 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. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNOW. Truist Financial decreased their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Loop Capital boosted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Oppenheimer upped their target price on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $200.28.

Snowflake Price Performance

SNOW traded up $0.04 during trading on Friday, hitting $183.01. The company's stock had a trading volume of 3,414,758 shares, compared to its average volume of 6,405,777. 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 stock has a market capitalization of $60.41 billion, a price-to-earnings ratio of -53.98 and a beta of 1.11. The firm's 50 day moving average price is $154.99 and its two-hundred day moving average price is $160.58. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the completion of the sale, the director now directly owns 25,972 shares of the company's stock, valued at approximately $4,363,555.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm'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 sale, the chief financial officer now owns 292,610 shares in the company, 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. Insiders sold 356,963 shares of company stock valued at $58,204,058 over the last ninety days. 7.80% of the stock is owned by insiders.

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.