Allspring Global Investments Holdings LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,404 shares of the company’s stock after selling 71 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Snowflake were worth $15,991,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Snowflake by 8.3% during the third quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock valued at $2,939,269,000 after purchasing an additional 1,327,410 shares in the last quarter. BlackRock Inc. raised its position in shares of Snowflake by 25.7% during the third quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock worth $2,136,029,000 after acquiring an additional 2,569,953 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Snowflake by 17.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,741,955 shares of the company’s stock worth $1,215,656,000 after acquiring an additional 1,270,181 shares during the last quarter. State Street Corp raised its position in shares of Snowflake by 30.6% during the third quarter. State Street Corp now owns 5,657,938 shares of the company’s stock worth $961,623,000 after acquiring an additional 1,324,033 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Snowflake by 1.7% during the third quarter. Jennison Associates LLC now owns 5,450,812 shares of the company’s stock worth $926,420,000 after acquiring an additional 91,901 shares during the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.
Snowflake Trading Down 0.5 %
Shares of Snowflake stock opened at $145.68 on Friday. The stock has a fifty day simple moving average of $149.52 and a 200 day simple moving average of $151.15. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $222.00. The company has a market capitalization of $46.85 billion, a P/E ratio of -58.27 and a beta of 0.75.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on SNOW shares. Barclays lowered their price objective on Snowflake from $180.00 to $171.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. TD Cowen lowered their price objective on Snowflake from $225.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Snowflake from $185.00 to $170.00 in a report on Monday, January 23rd. Piper Sandler reiterated a “buy” rating and issued a $194.00 target price on shares of Snowflake in a report on Thursday, March 2nd. Finally, Mizuho lowered their target price on Snowflake from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, March 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.36.
Insider Buying and Selling at Snowflake
In other Snowflake news, CEO Frank Slootman sold 1,701 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the transaction, the chief executive officer now owns 130,241 shares in the company, valued at approximately $18,413,472.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $152.79, for a total transaction of $1,527,900.00. Following the completion of the transaction, the director now owns 154,902 shares in the company, valued at approximately $23,667,476.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 1,701 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the transaction, the chief executive officer now owns 130,241 shares of the company’s stock, valued at approximately $18,413,472.58. The disclosure for this sale can be found here. Insiders sold 257,755 shares of company stock worth $35,896,146 in the last quarter. 8.90% of the stock is currently owned by company insiders.
Snowflake Profile
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
Featured Stories
- Get a free copy of the StockNews.com research report on Snowflake (SNOW)
- Hypercharge Networks: Up Triple Digits, But What’s The Big Deal?
- 3 Reasons Why Apple’s 30% Rally Has Legs
- 3 Reasons to Pick First Citizens Instead of First Republic Bank
- 3 April Earnings Plays for Bullish Swing Traders
- Is Constellation Brands Star About To Rise?
Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW – Get Rating).
Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.
