Artisan Partners Limited Partnership Sells 90,394 Shares of Snowflake Inc. (NYSE:SNOW)

Artisan Partners Limited Partnership cut its position in shares of Snowflake Inc. (NYSE:SNOW) by 13.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,556 shares of the company’s stock after selling 90,394 shares during the period. Artisan Partners Limited Partnership owned approximately 0.17% of Snowflake worth $86,247,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $750,572,000. Jennison Associates LLC increased its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. Two Sigma Advisers LP raised 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 valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of 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 period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Performance

Shares of SNOW opened at $157.01 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $51.83 billion, a PE ratio of -46.31 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 stock has a fifty day moving average price of $172.39 and a 200-day moving average price of $150.74.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Rosenblatt Securities increased their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. UBS Group lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Thursday, February 20th. Finally, Evercore ISI boosted their target price on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

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.