Snowflake Inc. (NYSE:SNOW) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 37.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,646 shares of the company’s stock after acquiring an additional 48,403 shares during the period. LPL Financial LLC owned approximately 0.05% of Snowflake worth $27,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Jennison Associates LLC increased its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the period. Raymond James Financial Inc. acquired a new position in Snowflake during the 4th quarter worth about $124,433,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Snowflake by 165.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after acquiring an additional 333,500 shares during the period. Finally, Amundi grew its position in Snowflake by 37.9% in the 4th quarter. Amundi now owns 1,047,327 shares of the company’s stock valued at $168,651,000 after acquiring an additional 287,729 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE SNOW opened at $150.60 on Friday. The stock has a fifty day moving average price of $171.99 and a 200 day moving average price of $151.30. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 603,968 shares of company stock worth $99,863,550. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SNOW shares. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. 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 research report on Thursday, February 27th. Royal Bank of Canada upped their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Piper Sandler lifted their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, KeyCorp upped their price target on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.08.

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.