Legal & General Group Plc Sells 650,605 Shares of Snowflake Inc. (NYSE:SNOW)

Legal & General Group Plc reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 27.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,737,150 shares of the company’s stock after selling 650,605 shares during the quarter. Legal & General Group Plc owned approximately 0.53% of Snowflake worth $268,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupama Asset Managment bought a new position in Snowflake in the third quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the 4th quarter worth about $29,000. Quadrant Capital Group LLC grew its stake in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC increased its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its position in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their target price on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $183.00 target price on shares of Snowflake in a report on Wednesday, April 2nd. Finally, Needham & Company LLC raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $201.84.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,589 shares of company stock valued at $82,405,796. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $132.93 on Wednesday. The company has a market capitalization of $43.88 billion, a price-to-earnings ratio of -39.21 and a beta of 1.13. The business has a 50 day simple moving average of $165.98 and a 200-day simple moving average of $152.83. 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 twelve month low of $107.13 and a twelve month high of $194.40.

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.