Snowflake Inc. (NYSE:SNOW) Shares Sold by Aviva PLC

Aviva PLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 30.1% in the 4th quarter, HoldingsChannel reports. The fund owned 182,213 shares of the company’s stock after selling 78,637 shares during the period. Aviva PLC’s holdings in Snowflake were worth $28,136,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SNOW. Toronto Dominion Bank boosted 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 worth $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in Snowflake during the fourth quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at $5,851,000. Finally, Stephens Consulting LLC increased its holdings in shares of Snowflake by 7,407.4% during the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 491,186 shares of company stock worth $82,353,709. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNOW shares. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Truist Financial decreased their target price on Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Loop Capital boosted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 target price on shares of Snowflake in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.05.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $130.41 on Monday. 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 firm’s 50-day moving average price is $168.97 and its two-hundred day moving average price is $152.70. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The stock has a market capitalization of $43.05 billion, a P/E ratio of -38.47 and a beta of 1.13.

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.