Snowflake Inc. (NYSE:SNOW) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. boosted its stake in Snowflake Inc. (NYSE:SNOW) by 2,814.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,824 shares of the company’s stock after acquiring an additional 268,290 shares during the period. Prudential Financial Inc. owned 0.08% of Snowflake worth $42,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its holdings in shares of Snowflake by 92.2% in 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 during the period. State Street Corp grew its position in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares during the last quarter. Geode Capital Management LLC increased its stake in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP raised its position in Snowflake by 27.9% during the 3rd 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Snowflake by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after acquiring an additional 51,366 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNOW. Canaccord Genuity Group increased their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company raised their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Piper Sandler raised their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada upped their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated 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 completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,968 shares of company stock worth $50,900,550 over the last quarter. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Down 0.2 %

SNOW stock opened at $162.86 on Wednesday. The company has a 50 day moving average price of $172.75 and a two-hundred day moving average price 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 stock has a market capitalization of $53.76 billion, a P/E ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a one year low of $107.13 and a one year 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.