BNP Paribas Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

by · The Cerbat Gem

BNP Paribas increased its holdings in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 670.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,316 shares of the company’s stock after buying an additional 5,496 shares during the period. BNP Paribas’ holdings in Snowflake were worth $975,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SNOW. Prospect Financial Services LLC purchased a new position in Snowflake in the fourth quarter valued at $288,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after buying an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $5,851,000. Stephens Consulting LLC raised its holdings in Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC raised its holdings in Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock valued at $2,458,000 after acquiring an additional 4,559 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. DA Davidson decreased their price target on Snowflake from $225.00 to $200.00 and set a “buy” rating for the company in a report on Monday, April 14th. BTIG Research upgraded 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. Daiwa America upgraded Snowflake to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Barclays increased their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.28.

View Our Latest Research Report on SNOW

Insider Buying and Selling

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,560 shares of company stock valued at $59,253,850. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

SNOW stock opened at $167.71 on Monday. The company has a market cap of $55.36 billion, a price-to-earnings ratio of -49.47 and a beta of 1.11. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $153.46 and a 200-day moving average of $157.49. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

About Snowflake

(Free Report)

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.

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