Nordea Investment Management AB Buys 536 Shares of Snowflake Inc. (NYSE:SNOW)

Nordea Investment Management AB increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,911 shares of the company’s stock after purchasing an additional 536 shares during the quarter. Nordea Investment Management AB’s holdings in Snowflake were worth $3,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Acadian Asset Management LLC raised its stake in shares of Snowflake by 190.2% in the second quarter. Acadian Asset Management LLC now owns 8,652 shares of the company’s stock valued at $1,166,000 after acquiring an additional 5,671 shares during the period. Andra AP fonden bought a new stake in Snowflake in the second quarter worth about $3,229,000. American Century Companies Inc. boosted its position in shares of Snowflake by 5.8% during the second quarter. American Century Companies Inc. now owns 707,397 shares of the company’s stock valued at $95,562,000 after buying an additional 38,966 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Snowflake by 51.3% during the second quarter. Oppenheimer & Co. Inc. now owns 21,798 shares of the company’s stock valued at $2,945,000 after buying an additional 7,389 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Snowflake by 1.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 230,590 shares of the company’s stock worth $31,121,000 after acquiring an additional 3,490 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 1,712 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the sale, the director now directly owns 205,965 shares in the company, valued at $36,867,735. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNOW. Piper Sandler upped their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. UBS Group dropped their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. KeyCorp lifted their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $150.00 to $200.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $162.65 on Friday. The company has a market capitalization of $53.69 billion, a P/E ratio of -47.98 and a beta of 1.05. 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 12 month low of $107.13 and a 12 month high of $237.72. The firm has a fifty day simple moving average of $156.42 and a 200-day simple moving average of $133.87.

About Snowflake

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.