Snowflake Inc. (NYSE:SNOW) Stock Holdings Increased by Voya Investment Management LLC

Voya Investment Management LLC raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 157.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 925,817 shares of the company's stock after purchasing an additional 565,561 shares during the period. Voya Investment Management LLC owned about 0.28% of Snowflake worth $142,955,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNOW. Westside Investment Management Inc. grew its holdings in Snowflake by 47.4% in the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock valued at $1,438,000 after purchasing an additional 3,971 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Snowflake by 50.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock valued at $535,000 after buying an additional 1,559 shares during the period. Blankinship & Foster LLC purchased a new position in shares of Snowflake in the 3rd quarter worth $896,000. Synovus Financial Corp boosted its holdings in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock valued at $698,000 after acquiring an additional 1,352 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNOW shares. UBS Group boosted their target price on Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price objective for the company. Evercore ISI lifted 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. Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, Oppenheimer upped their target price on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Ten research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the transaction, the executive vice president now owns 590,632 shares in the company, valued at $94,501,120. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,342 shares of company stock valued at $61,578,513. Corporate insiders own 7.80% of the company's stock.

Snowflake Stock Performance

Shares of NYSE SNOW traded down $3.20 during midday trading on Wednesday, reaching $157.15. 1,350,776 shares of the company traded hands, compared to its average volume of 6,377,626. The company has a market cap of $51.88 billion, a price-to-earnings ratio of -46.36 and a beta of 1.13. The stock has a 50-day moving average price of $153.86 and a 200 day moving average price of $156.33. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.