US Bancorp DE Acquires 4,565 Shares of Snowflake Inc. (NYSE:SNOW)

US Bancorp DE increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,169 shares of the company’s stock after acquiring an additional 4,565 shares during the quarter. US Bancorp DE’s holdings in Snowflake were worth $4,041,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Jennison Associates LLC increased 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 worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. State Street Corp increased its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Geode Capital Management LLC increased its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after acquiring an additional 138,663 shares during the period. Two Sigma Advisers LP grew its stake in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNOW. Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Piper Sandler increased their price objective on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. TD Cowen increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Evercore ISI increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Stock Up 2.3 %

Snowflake stock opened at $177.66 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 50 day moving average price of $173.94 and a two-hundred day moving average price of $146.64. The firm has a market cap of $58.65 billion, a price-to-earnings ratio of -52.41 and a beta of 1.07.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $306,448.00. Following the completion of the sale, the director now owns 205,965 shares in the company, valued at $36,867,735. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now owns 594,975 shares of the company’s stock, valued at $102,186,956.25. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 297,193 shares of company stock worth $50,096,313. 7.80% of the stock is currently owned by insiders.

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.