Snowflake Inc. (NYSE:SNOW) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its stake in Snowflake Inc. (NYSE:SNOW) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,080 shares of the company’s stock after selling 1,673 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Snowflake were worth $1,093,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp boosted its stake in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Norges Bank acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $750,572,000. Finally, Geode Capital Management LLC raised its holdings in shares of Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after buying an additional 15,314 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

SNOW opened at $130.41 on Friday. The stock has a fifty day moving average price of $168.97 and a 200 day moving average price of $152.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market cap of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNOW. Rosenblatt Securities raised their target price on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group raised their price target on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Evercore ISI raised their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $203.05.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction 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. This represents a 50.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 in the last three months. 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.