Bridgewater Associates LP Acquires 234,484 Shares of Snowflake Inc. (NYSE:SNOW)

Bridgewater Associates LP increased its holdings in Snowflake Inc. (NYSE:SNOW) by 2,546.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,694 shares of the company’s stock after acquiring an additional 234,484 shares during the quarter. Bridgewater Associates LP’s holdings in Snowflake were worth $37,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new stake in shares of Snowflake in the 4th quarter worth approximately $988,950,000. FMR LLC increased its position in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new stake in Snowflake in the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC grew its stake in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after acquiring an additional 15,314 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SNOW. Canaccord Genuity Group lifted their price target on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Jefferies Financial Group decreased their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday, March 31st. Royal Bank of Canada raised their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Citigroup upped their price objective on Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Finally, Barclays lifted their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.51.

Snowflake Price Performance

NYSE:SNOW opened at $144.34 on Tuesday. The stock has a market cap of $47.65 billion, a PE ratio of -42.58 and a beta of 1.13. 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 business’s 50-day simple moving average is $162.27 and its two-hundred day simple moving average is $154.03. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by company insiders.

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.