UniSuper Management Pty Ltd Reduces Stock Position in Snowflake Inc. (NYSE:SNOW)

UniSuper Management Pty Ltd trimmed its position in Snowflake Inc. (NYSE:SNOW) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the company’s stock after selling 1,100 shares during the period. UniSuper Management Pty Ltd’s holdings in Snowflake were worth $896,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNOW. Toronto Dominion Bank lifted its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new position in shares of Snowflake during the 4th quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 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 acquiring an additional 8,857 shares during the period. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake in the fourth quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC grew its holdings in 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 during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Snowflake stock opened at $146.29 on Tuesday. The company has a market cap of $48.29 billion, a PE ratio of -43.15 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a fifty day moving average price of $171.49 and a two-hundred day moving average price of $151.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNOW shares. KeyCorp lifted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Mizuho raised their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Monness Crespi & Hardt boosted their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $203.83.

Insider Activity

In related news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 503,968 shares of company stock valued at $84,363,550. Company insiders own 7.80% of the company’s stock.

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.