Zevenbergen Capital Investments LLC Sells 20,985 Shares of Snowflake Inc. (NYSE:SNOW)

Zevenbergen Capital Investments LLC lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 251,702 shares of the company’s stock after selling 20,985 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.08% of Snowflake worth $38,865,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in shares of Snowflake in the fourth quarter worth approximately $288,000. Independent Advisor Alliance grew its holdings in shares of Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in Snowflake during the fourth quarter worth approximately $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

SNOW opened at $157.94 on Monday. The firm has a market cap of $52.14 billion, a P/E ratio of -46.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The business’s fifty day moving average is $172.74 and its 200-day moving average is $149.89.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNOW shares. KeyCorp raised their target price on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. UBS Group raised their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Piper Sandler increased their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Truist Financial reaffirmed a “buy” rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Finally, Evercore ISI upped their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.08.

Insider Activity

In related news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,568 shares of company stock worth $49,923,480. 7.80% of the stock is currently owned by corporate insiders.

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.