Franklin Resources Inc. Has $93.26 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Franklin Resources Inc. boosted its position in Snowflake Inc. (NYSE:SNOW) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 603,994 shares of the company’s stock after buying an additional 67,406 shares during the quarter. Franklin Resources Inc. owned approximately 0.18% of Snowflake worth $93,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank grew its position in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. increased its position in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after buying an additional 8,857 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC boosted its position in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after acquiring an additional 2,000 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNOW. Mizuho upped their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. KeyCorp increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Bank of America boosted their price target on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Macquarie started coverage on Snowflake in a research note on Wednesday. They issued a “neutral” rating and a $160.00 target price for the company. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’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 completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 in the last quarter. 7.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of SNOW stock opened at $154.23 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a market cap of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. The stock has a 50-day moving average price of $170.55 and a 200 day moving average price of $152.08.

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.