Snowflake Inc. (NYSE:SNOW) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,531 shares of the company’s stock after selling 1,106 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Snowflake were worth $4,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Snowflake by 10.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 267,176 shares of the company’s stock valued at $43,341,000 after acquiring an additional 24,493 shares during the last quarter. Korea Investment CORP increased its position in Snowflake by 74.4% during the fourth quarter. Korea Investment CORP now owns 283,576 shares of the company’s stock worth $43,787,000 after purchasing an additional 120,961 shares during the last quarter. Tyler Stone Wealth Management purchased a new position in Snowflake during the fourth quarter worth approximately $896,000. Ausdal Financial Partners Inc. acquired a new position in shares of Snowflake in the 4th quarter valued at $246,000. Finally, Keystone Investors PTE Ltd. purchased a new stake in shares of Snowflake during the 4th quarter valued at $2,055,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Down 1.7 %

Shares of NYSE:SNOW opened at $157.01 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $51.83 billion, a PE ratio of -46.31 and a beta of 1.07. The firm has a 50 day simple moving average of $172.39 and a 200 day simple moving average of $150.74.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 603,968 shares of company stock worth $99,863,550 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research reports. Monness Crespi & Hardt increased their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Jefferies Financial Group boosted their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. Finally, Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

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.