EFG Asset Management North America Corp. Invests $1.83 Million in Snowflake Inc. (NYSE:SNOW)

EFG Asset Management North America Corp. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, Holdings Channel reports. The fund bought 11,840 shares of the company’s stock, valued at approximately $1,829,000.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC raised 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 valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. Raymond James Financial Inc. purchased a new stake in Snowflake in the 4th quarter worth approximately $124,433,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Snowflake by 165.6% during 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 period. Finally, Amundi increased its holdings in shares of Snowflake by 37.9% during the 4th quarter. Amundi now owns 1,047,327 shares of the company’s stock valued at $168,651,000 after purchasing an additional 287,729 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 7,908 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $154.67, for a total value of $1,223,130.36. Following the transaction, the executive vice president now directly owns 600,632 shares in the company, valued at approximately $92,899,751.44. This represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. Scotiabank increased their price target on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, UBS Group upped their target price on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Trading Down 0.2 %

Shares of Snowflake stock opened at $162.86 on Wednesday. The stock has a 50 day moving average of $172.75 and a 200 day moving average of $150.63. 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 capitalization of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Snowflake Company 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.