Vanguard Group Inc. Trims Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Vanguard Group Inc. lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,877,635 shares of the company’s stock after selling 276,451 shares during the period. Vanguard Group Inc. owned about 0.08% of Snowflake worth $4,150,176,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Snowflake by 126.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,372 shares of the company’s stock worth $2,570,000 after purchasing an additional 12,492 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Snowflake in the 3rd quarter worth approximately $293,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Snowflake in the 3rd quarter worth approximately $11,252,000. Charles Schwab Investment Management Inc. increased its position in Snowflake by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after buying an additional 36,704 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in Snowflake by 27.2% during the third quarter. Great Valley Advisor Group Inc. now owns 15,005 shares of the company’s stock valued at $1,724,000 after buying an additional 3,206 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNOW. Stifel Nicolaus raised their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $225.00 price objective (up from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research note on Tuesday, February 18th. Rosenblatt Securities raised their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC upped their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares in the company, valued at $28,491,114.31. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

NYSE SNOW opened at $163.36 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50 day simple moving average of $172.76 and a two-hundred day simple moving average of $150.25. The stock has a market capitalization of $53.93 billion, a PE ratio of -48.19 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.