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% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,796 shares of the company’s stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Dedication LLC increased its holdings in shares of Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group increased its holdings in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after acquiring an additional 90 shares in the last quarter. Catalyst Private Wealth LLC increased its holdings in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its holdings in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Evercore ISI boosted their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada lifted their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Finally, Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.89.

Snowflake Stock Performance

NYSE:SNOW opened at $177.79 on Friday. 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 $235.66. The firm has a market cap of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07. The business’s fifty day moving average is $172.88 and its 200 day moving average is $143.76.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 394,345 shares of company stock worth $67,286,835. 7.80% of the stock is owned by company 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.