2,000 Shares in Snowflake Inc. (NYSE:SNOW) Bought by MMA Asset Management LLC

MMA Asset Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,000 shares of the company’s stock, valued at approximately $309,000.

Several other large investors also recently modified their holdings of SNOW. Jennison Associates LLC lifted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Ontario Teachers Pension Plan Board lifted 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 valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP lifted 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Snowflake by 165.6% during 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 purchasing an additional 333,500 shares in the last quarter. Finally, General Catalyst Group Management LLC purchased a new position in Snowflake during the fourth quarter valued at $40,931,000. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on 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. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,193 shares of company stock valued at $52,833,048. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SNOW shares. Stifel Nicolaus lifted their target price on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI lifted 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. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research report on Tuesday, February 18th. Finally, Citigroup boosted their price objective on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 1.8 %

SNOW opened at $176.76 on Friday. The stock has a market cap of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. The stock’s 50 day moving average price is $173.19 and its 200-day moving average price is $145.64. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.