Pitcairn Co. Purchases 254 Shares of Snowflake Inc. (NYSE:SNOW)

Pitcairn Co. lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 10.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,738 shares of the company’s stock after buying an additional 254 shares during the quarter. Pitcairn Co.’s holdings in Snowflake were worth $423,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNOW. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter valued at about $988,950,000. GQG Partners LLC bought a new position in Snowflake in the 4th quarter worth approximately $750,572,000. Jennison Associates LLC grew its holdings in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. Groupama Asset Managment raised its position in shares of Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock valued at $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Snowflake by 1,303.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,719,704 shares of the company’s stock worth $265,539,000 after buying an additional 1,597,148 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Down 6.8 %

NYSE:SNOW opened at $130.41 on Friday. The firm has a 50-day simple moving average of $168.97 and a 200-day simple moving average of $152.40. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The firm has a market cap of $43.05 billion, a P/E ratio of -38.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Wells Fargo & Company lifted their target price on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Scotiabank increased their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Daiwa America raised Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research report on Tuesday, February 18th. Ten equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.05.

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.