Aviva PLC Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Aviva PLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 30.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 182,213 shares of the company’s stock after selling 78,637 shares during the period. Aviva PLC owned approximately 0.06% of Snowflake worth $28,136,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $29,000. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter worth $25,000. Blue Bell Private Wealth Management LLC increased its position in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNOW. Loop Capital increased their price target on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald lifted their price target on Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Wedbush set a $210.00 target price on Snowflake in a research report on Wednesday, January 22nd. Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Rosenblatt Securities increased their price target 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. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Stock Performance

SNOW opened at $130.41 on Monday. The stock’s 50 day simple moving average is $168.97 and its 200 day simple moving average is $152.70. The stock has a market cap of $43.05 billion, a P/E ratio of -38.47 and a beta of 1.13. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,186 shares of company stock valued at $82,353,709. Insiders own 7.80% of the company’s stock.

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.