Sei Investments Co. Has $62.66 Million Stake in Snowflake Inc. (NYSE:SNOW)

Sei Investments Co. grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 207.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 405,822 shares of the company’s stock after acquiring an additional 273,727 shares during the quarter. Sei Investments Co.’s holdings in Snowflake were worth $62,662,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SNOW. Jennison Associates LLC grew its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp grew its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the period. Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP increased its stake in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Snowflake by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after acquiring an additional 51,366 shares during the period. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SNOW. Loop Capital lifted their price target on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Citigroup upped their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Monness Crespi & Hardt raised their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

Insider Activity

In other news, EVP Christian Kleinerman sold 3,765 shares of Snowflake stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the completion of the transaction, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 297,568 shares of company stock valued at $49,923,480 in the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $157.94 on Monday. 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 business’s 50 day simple moving average is $172.74 and its 200 day simple moving average is $149.89. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07.

Snowflake 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.