Royal London Asset Management Ltd. Has $22.88 Million Position in Snowflake Inc. (NYSE:SNOW)

Royal London Asset Management Ltd. boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 148,192 shares of the company’s stock after buying an additional 4,080 shares during the period. Royal London Asset Management Ltd.’s holdings in Snowflake were worth $22,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Snowflake during the 4th quarter valued at about $29,000. Groupama Asset Managment bought a new position in Snowflake during the 3rd quarter valued at about $25,000. Blue Bell Private Wealth Management LLC lifted its holdings in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Frank Slootman sold 7,016 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the completion of the transaction, the director now owns 182,999 shares in the company, valued at approximately $28,491,114.31. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 298,429 shares of company stock worth $50,065,812 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Barclays boosted their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Mizuho boosted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 target price on shares of Snowflake in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Snowflake Stock Up 0.5 %

Snowflake stock opened at $157.94 on Friday. The stock has a market capitalization of $52.14 billion, a PE ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. 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 company has a 50 day moving average of $172.74 and a 200-day moving average of $149.34.

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.