Handelsbanken Fonder AB Acquires 3,923 Shares of Snowflake Inc. (NYSE:SNOW)

Handelsbanken Fonder AB boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 3.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 125,796 shares of the company’s stock after buying an additional 3,923 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snowflake were worth $19,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SNOW. Groupama Asset Managment bought a new position in Snowflake in the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $29,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the 3rd quarter worth about $34,000. Perkins Coie Trust Co boosted its holdings in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake in the 4th quarter worth about $38,000. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Citigroup cut their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Bank of America upped their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada increased their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.89.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 394,345 shares of company stock worth $67,286,835 in the last quarter. 7.80% of the stock is owned by company insiders.

Snowflake Trading Down 3.9 %

SNOW opened at $177.79 on Friday. The stock has a market cap of $58.69 billion, a PE ratio of -52.45 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $172.88 and a 200-day moving average of $143.76. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66.

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.