Snowflake Inc. (NYSE:SNOW) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,586 shares of the company’s stock after purchasing an additional 2,583 shares during the period. DnB Asset Management AS’s holdings in Snowflake were worth $8,120,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $29,000. Groupama Asset Managment acquired a new position in Snowflake in the third quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC increased its stake in Snowflake by 189.5% in the fourth 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 raised its holdings in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is owned by insiders.

Snowflake Trading Down 4.1 %

Shares of Snowflake stock opened at $150.60 on Friday. The business has a fifty day simple moving average of $171.99 and a 200-day simple moving average of $151.30. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent analyst reports. Bank of America increased their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. Scotiabank lifted their price target on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus increased their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.08.

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.