Forsta AP Fonden Reduces Stake in Snowflake Inc. (NYSE:SNOW)

Forsta AP Fonden cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,300 shares of the company’s stock after selling 1,200 shares during the period. Forsta AP Fonden’s holdings in Snowflake were worth $9,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SNOW. Groupama Asset Managment purchased a new position in Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the 3rd quarter worth about $34,000. Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Snowflake in the 4th quarter worth about $38,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNOW shares. Truist Financial reiterated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. TD Cowen lifted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’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 sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock worth $84,973,139 in the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $179.42 on Friday. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of -52.93 and a beta of 1.05. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50-day simple moving average of $169.02 and a 200-day simple moving average of $137.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.