Prudential PLC Raises Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Prudential PLC lifted its stake in Snowflake Inc. (NYSE:SNOW) by 326.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,429 shares of the company’s stock after buying an additional 13,339 shares during the quarter. Prudential PLC’s holdings in Snowflake were worth $2,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC bought a new position in Snowflake during the fourth quarter valued at $750,572,000. 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 during the last quarter. Groupama Asset Managment grew its stake in shares of Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Snowflake by 1,303.2% in the 4th 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 during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction on 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 directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value 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. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,186 shares of company stock valued at $82,353,709. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday, March 31st. Rosenblatt Securities lifted their target price on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Bank of America boosted their target price on Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Monness Crespi & Hardt raised their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Evercore ISI boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Ten 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Snowflake Stock Down 6.8 %

Shares of SNOW stock opened at $130.41 on Friday. The stock’s fifty day moving average price is $168.97 and its 200 day moving average price is $152.40. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market cap of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. 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 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.