Gulf International Bank UK Ltd Trims Position in Snowflake Inc. (NYSE:SNOW)

Gulf International Bank UK Ltd lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,265 shares of the company’s stock after selling 239 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Snowflake were worth $3,592,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment acquired a new stake in Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $29,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth $34,000. Perkins Coie Trust Co grew its position in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Snowflake in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SNOW. KeyCorp raised their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays lifted their price objective on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen boosted 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. Evercore ISI raised their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $202.92.

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 2,218 shares of Snowflake stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total value of $388,150.00. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at $36,528,625. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,193 shares of company stock worth $52,833,048 in the last 90 days. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

Snowflake stock opened at $173.78 on Friday. The stock has a fifty day moving average price of $172.98 and a 200 day moving average price of $145.14. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $233.88. The firm has a market capitalization of $57.36 billion, a P/E ratio of -51.26 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.