Snowflake Inc. (NYSE:SNOW) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 13.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 558,556 shares of the company’s stock after selling 90,394 shares during the period. Artisan Partners Limited Partnership’s holdings in Snowflake were worth $86,247,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Cerity Partners LLC raised its position in Snowflake by 10.1% during the third quarter. Cerity Partners LLC now owns 53,966 shares of the company’s stock valued at $6,198,000 after acquiring an additional 4,960 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. Independent Advisor Alliance boosted its holdings in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Snowflake by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 33,815 shares of the company’s stock valued at $3,884,000 after buying an additional 633 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in Snowflake by 196.5% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 6,790 shares of the company’s stock valued at $780,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 603,968 shares of company stock valued at $99,863,550. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of analyst reports. Needham & Company LLC raised their target price on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup raised their price objective on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Snowflake Price Performance

Shares of SNOW opened at $157.01 on Friday. The firm has a 50-day simple moving average of $172.39 and a two-hundred day simple moving average of $150.74. The stock has a market cap of $51.83 billion, a PE ratio of -46.31 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year 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.

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.