Snowflake Inc. (NYSE:SNOW) is Groupama Asset Managment’s 9th Largest Position

Groupama Asset Managment boosted its position in Snowflake Inc. (NYSE:SNOW) by 930,132.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000,000 shares of the company’s stock after purchasing an additional 1,999,785 shares during the period. Snowflake comprises approximately 2.3% of Groupama Asset Managment’s holdings, making the stock its 9th largest position. Groupama Asset Managment owned about 0.61% of Snowflake worth $308,820,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SNOW. Asset Dedication LLC grew its stake in shares of Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the period. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after buying an additional 69 shares during the period. Larson Financial Group LLC increased its holdings in Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after buying an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Needham & Company LLC lifted their price objective on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Barclays boosted their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Piper Sandler upped their price target on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Bank of America lifted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.83.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

SNOW opened at $146.29 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a 50 day moving average of $171.49 and a two-hundred day moving average of $151.82. The company has a market cap of $48.29 billion, a P/E ratio of -43.15 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.

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.