Charles Schwab Investment Management Inc. Buys 83,013 Shares of Snowflake Inc. (NYSE:SNOW)

Charles Schwab Investment Management Inc. increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,330,524 shares of the company’s stock after acquiring an additional 83,013 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Snowflake were worth $205,446,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% during 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 increased its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP increased its position in 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 buying an additional 881,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Snowflake by 165.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after buying an additional 333,500 shares during the period. Finally, General Catalyst Group Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $40,931,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW opened at $156.10 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $51.53 billion, a PE ratio of -46.05 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The business has a 50-day simple moving average of $173.80 and a two-hundred day simple moving average of $146.71.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Jefferies Financial Group raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities raised their price objective on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $306,448.00. Following the transaction, the director now owns 205,965 shares in the company, valued at approximately $36,867,735. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,193 shares of company stock worth $50,096,313. Insiders own 7.80% of the company’s stock.

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.