LGT Group Foundation Has $4.55 Million Stake in Snowflake Inc. (NYSE:SNOW)

LGT Group Foundation trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,470 shares of the company’s stock after selling 18,448 shares during the quarter. LGT Group Foundation’s holdings in Snowflake were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SNOW. Jennison Associates LLC lifted its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in Snowflake by 19,399.2% in 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. Two Sigma Advisers LP lifted its holdings in Snowflake by 27.9% in the 3rd 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after purchasing an additional 333,500 shares during the last quarter. Finally, General Catalyst Group Management LLC acquired a new stake in Snowflake in the 4th quarter worth approximately $40,931,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. Wedbush set a $210.00 target price on Snowflake in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Barclays lifted their price target on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,193 shares of company stock valued at $50,220,063. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Snowflake stock opened at $173.81 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $57.37 billion, a P/E ratio of -51.27 and a beta of 1.07. The business’s fifty day moving average is $173.43 and its two-hundred day moving average is $146.10. Snowflake Inc. has a 52 week low of $107.13 and a 52 week 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.