Snowflake Inc. (NYSE:SNOW) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1,303.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,719,704 shares of the company’s stock after buying an additional 1,597,148 shares during the period. Pictet Asset Management Holding SA’s holdings in Snowflake were worth $265,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Toronto Dominion Bank increased its position in 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 buying an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in shares of Snowflake during the fourth quarter worth about $288,000. Independent Advisor Alliance increased its holdings in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in 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. Finally, Bourgeon Capital Management LLC acquired a new position in Snowflake during the 4th quarter valued at about $5,851,000. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares in the company, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 603,968 shares of company stock worth $99,863,550 in the last three months. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

SNOW opened at $157.01 on Friday. The stock has a fifty day moving average price of $172.39 and a 200 day moving average price of $150.74. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market cap of $51.83 billion, a price-to-earnings ratio of -46.31 and a beta of 1.07.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Jefferies Financial Group raised their price target on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus raised their target price on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Evercore ISI lifted their target price on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

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.