Franklin Resources Inc. Has $93.26 Million Position in Snowflake Inc. (NYSE:SNOW)

Franklin Resources Inc. lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 12.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 603,994 shares of the company’s stock after buying an additional 67,406 shares during the quarter. Franklin Resources Inc.’s holdings in Snowflake were worth $93,263,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new position in Snowflake in the 4th quarter worth $288,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $5,851,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after purchasing an additional 2,000 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Truist Financial cut their price objective on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC raised their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have given 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 an average target price of $203.05.

Snowflake Stock Performance

SNOW opened at $154.23 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market cap of $50.91 billion, a P/E ratio of -45.50 and a beta of 1.07. The business’s fifty day moving average is $170.55 and its 200-day moving average is $152.08.

Insiders Place Their Bets

In other Snowflake news, 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 transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at approximately $91,673,243.64. The trade was a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock worth $82,353,709 over the last ninety days. Corporate 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.