Northern Trust Corp Has $330.66 Million Stake in Snowflake Inc. (NYSE:SNOW)

Northern Trust Corp increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,141,468 shares of the company’s stock after buying an additional 326,104 shares during the quarter. Northern Trust Corp owned about 0.65% of Snowflake worth $330,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Prospect Financial Services LLC bought a new position in shares of Snowflake in the fourth quarter worth $288,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 buying an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at approximately $5,851,000. Stephens Consulting LLC lifted its holdings in shares of Snowflake by 7,407.4% during the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after acquiring an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC boosted its position in shares of Snowflake by 40.1% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $159.49 on Thursday. The business’s fifty day simple moving average is $153.50 and its 200 day simple moving average is $156.35. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a market capitalization of $52.65 billion, a P/E ratio of -47.05 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Snowflake from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group reduced their price target on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.27.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,342 shares of company stock valued at $61,578,513 in the last ninety days. 7.80% of the stock is currently owned by 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.