Neuberger Berman Group LLC Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Neuberger Berman Group LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,276 shares of the company’s stock after purchasing an additional 1,805 shares during the quarter. Neuberger Berman Group LLC’s holdings in Snowflake were worth $8,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $29,000. Quadrant Capital Group LLC raised its holdings in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its position 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 period. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in 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 purchasing an additional 230 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 4.4 %

SNOW opened at $144.46 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The business has a 50-day moving average of $164.05 and a two-hundred day moving average of $153.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $47.68 billion, a price-to-earnings ratio of -42.61 and a beta of 1.13.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,589 shares of company stock valued at $82,405,796. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company raised their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Daiwa America raised Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Citigroup raised their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Finally, Loop Capital upped their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $201.84.

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.