Groupama Asset Managment Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Groupama Asset Managment lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 930,132.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,000,000 shares of the company’s stock after purchasing an additional 1,999,785 shares during the quarter. Snowflake accounts for approximately 2.3% of Groupama Asset Managment’s holdings, making the stock its 9th largest position. Groupama Asset Managment’s holdings in Snowflake were worth $308,820,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNOW. OV Management LLC boosted its position in shares of Snowflake by 6.0% in the 4th quarter. OV Management LLC now owns 3,528 shares of the company’s stock valued at $545,000 after purchasing an additional 199 shares during the period. Trexquant Investment LP increased its holdings in Snowflake by 27.2% in the fourth quarter. Trexquant Investment LP now owns 117,421 shares of the company’s stock valued at $18,131,000 after purchasing an additional 25,133 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after acquiring an additional 15,314 shares during the period. Nemes Rush Group LLC boosted its position in shares of Snowflake by 51.6% during the fourth quarter. Nemes Rush Group LLC now owns 3,143 shares of the company’s stock worth $485,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Snowflake by 12.6% in the fourth quarter. Franklin Resources Inc. now owns 603,994 shares of the company’s stock valued at $93,263,000 after acquiring an additional 67,406 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNOW. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho upped their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Barclays increased their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Scotiabank lifted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. 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. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $203.83.

Snowflake Trading Down 2.9 %

NYSE SNOW opened at $146.29 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The business has a 50 day simple moving average of $171.49 and a 200 day simple moving average of $151.82. The stock has a market capitalization of $48.29 billion, a P/E ratio of -43.15 and a beta of 1.07.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the 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 in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by company insiders.

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.