Snowflake Inc. (NYSE:SNOW) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in Snowflake Inc. (NYSE:SNOW) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,202 shares of the company’s stock after selling 138 shares during the period. Shell Asset Management Co.’s holdings in Snowflake were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNOW. Norges Bank bought a new stake in shares of Snowflake in the 4th quarter worth $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter worth $750,572,000. Jennison Associates LLC raised its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. FMR LLC raised its stake in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after buying an additional 2,200,406 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on 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 completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

SNOW opened at $183.01 on Monday. The company has a market cap of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11. The stock has a 50-day moving average of $155.65 and a 200-day moving average of $161.65. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SNOW shares. BTIG Research raised 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. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research report on Tuesday, February 18th. Bank of America boosted their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada boosted their target price on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.28.

Snowflake Company 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.