Madrona Venture Group LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,633 shares of the company's stock after selling 200,000 shares during the quarter. Snowflake comprises approximately 66.5% of Madrona Venture Group LLC's investment portfolio, making the stock its largest position. Madrona Venture Group LLC owned approximately 0.07% of Snowflake worth $35,766,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. raised its holdings in Snowflake by 8.1% during the 4th quarter. Nomura Holdings Inc. now owns 45,223 shares of the company's stock worth $6,983,000 after purchasing an additional 3,391 shares during the last quarter. Northeast Financial Consultants Inc bought a new position in Snowflake during the 4th quarter worth approximately $201,000. Occudo Quantitative Strategies LP raised its holdings in Snowflake by 127.8% during the 4th quarter. Occudo Quantitative Strategies LP now owns 12,810 shares of the company's stock worth $1,978,000 after purchasing an additional 7,187 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Snowflake by 75.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,500 shares of the company's stock worth $2,702,000 after buying an additional 7,500 shares during the period. Finally, Maytus Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $11,967,000. Institutional investors own 65.10% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Piper Sandler reduced their price objective on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Finally, UBS Group raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $200.28.
Check Out Our Latest Stock Analysis on Snowflake
Insiders Place Their Bets
In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction 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 sale, the director now owns 25,972 shares in the company, valued at $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 in the last three months. 7.80% of the stock is currently owned by insiders.
Snowflake Stock Up 0.0%
SNOW traded up $0.04 during mid-day trading on Friday, reaching $183.01. 3,414,758 shares of the stock were exchanged, compared to its average volume of 6,405,778. 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 stock has a market capitalization of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11. The company has a 50 day moving average price of $155.65 and a two-hundred day moving average price of $161.03. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.
About Snowflake
(
Free Report)
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.
Further Reading
Before you consider Snowflake, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snowflake wasn't on the list.
While Snowflake currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
