Nordea Investment Management AB Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Nordea Investment Management AB raised its position in Snowflake Inc. (NYSE:SNOW) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,911 shares of the company’s stock after buying an additional 536 shares during the period. Nordea Investment Management AB’s holdings in Snowflake were worth $3,682,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SNOW. State Street Corp increased its holdings in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP increased its stake in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $162.65 on Friday. The company has a market cap of $53.69 billion, a P/E ratio of -47.98 and a beta of 1.05. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50-day moving average of $156.42 and a two-hundred day moving average of $133.87.

Insider Buying and Selling

In related news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock valued at $62,545,855 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC raised their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group decreased their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Argus started coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.11.

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.