Stifel Financial Corp Has $8.87 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Stifel Financial Corp cut its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,422 shares of the company's stock after selling 5,962 shares during the period. Stifel Financial Corp's holdings in Snowflake were worth $8,867,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SNOW. Jennison Associates LLC grew its stake in shares of 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 purchasing an additional 3,662,671 shares during the last quarter. Norges Bank bought a new stake in Snowflake during the fourth quarter worth approximately $988,950,000. FMR LLC grew its position in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the last quarter. GQG Partners LLC acquired a new position in Snowflake in the fourth quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC increased its holdings in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Piper Sandler cut their price objective on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. UBS Group lifted their target price 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. Finally, Daiwa Capital Markets began coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake Stock Performance

Shares of Snowflake stock traded up $6.03 during trading on Thursday, reaching $165.52. The company's stock had a trading volume of 5,100,852 shares, compared to its average volume of 6,389,764. The business's fifty day moving average price is $153.50 and its 200-day moving average price is $156.35. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The firm has a market cap of $54.64 billion, a price-to-earnings ratio of -48.83 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,342 shares of company stock valued at $61,578,513 in the last three months. Company insiders own 7.80% of the company's stock.

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.