Mirae Asset Global Investments Co. Ltd. Has $15.64 Million Position in Snowflake Inc. (NYSE:SNOW)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,415 shares of the company’s stock after buying an additional 19,936 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snowflake were worth $15,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SNOW. Diversified Trust Co acquired a new position in shares of Snowflake in the 3rd quarter valued at about $205,000. Ignite Planners LLC grew its position in Snowflake by 31.0% during the third quarter. Ignite Planners LLC now owns 2,656 shares of the company’s stock valued at $305,000 after purchasing an additional 628 shares in the last quarter. CWM LLC increased its stake in Snowflake by 41.7% in the 3rd quarter. CWM LLC now owns 171,882 shares of the company’s stock valued at $19,742,000 after buying an additional 50,601 shares during the period. Perpetual Ltd increased its stake in Snowflake by 2.5% in the 3rd quarter. Perpetual Ltd now owns 6,294 shares of the company’s stock valued at $723,000 after buying an additional 154 shares during the period. Finally, Sanders Morris Harris LLC lifted its position in Snowflake by 33.3% in the 3rd quarter. Sanders Morris Harris LLC now owns 7,000 shares of the company’s stock worth $804,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNOW shares. Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Oppenheimer lifted their price target on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Piper Sandler boosted their price target on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 in the last three months. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $188.59 on Thursday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a 50 day moving average of $170.06 and a 200-day moving average of $138.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $62.25 billion, a price-to-earnings ratio of -55.63 and a beta of 1.07.

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.