Assenagon Asset Management S.A. Sells 899,103 Shares of Snowflake Inc. (NYSE:SNOW)

Assenagon Asset Management S.A. trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 86.0% in the 4th quarter, HoldingsChannel reports. The firm owned 146,306 shares of the company’s stock after selling 899,103 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Snowflake were worth $22,591,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Breakwater Capital Group lifted its holdings in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Modus Advisors LLC increased its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC lifted its stake in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Snowflake by 6.7% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after purchasing an additional 115 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Snowflake by 16.2% during the third quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after purchasing an additional 115 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 over the last three months. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SNOW shares. Loop Capital boosted their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Needham & Company LLC upped their price objective on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI raised their target price on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Price Performance

Shares of SNOW stock opened at $170.89 on Friday. The stock has a market capitalization of $56.41 billion, a price-to-earnings ratio of -50.41 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 twelve month low of $107.13 and a twelve month high of $237.72. The stock has a fifty day simple moving average of $160.11 and a two-hundred day simple moving average of $134.83.

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.