Raiffeisen Bank International AG Invests $738,000 in Snowflake Inc. (NYSE:SNOW)

Raiffeisen Bank International AG bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,751 shares of the company’s stock, valued at approximately $738,000.

Several other institutional investors also recently modified their holdings of SNOW. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake during the 4th quarter valued at about $750,572,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC lifted its holdings in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after purchasing an additional 2,200,406 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

NYSE:SNOW opened at $183.01 on Friday. The company has a market cap of $60.41 billion, a price-to-earnings ratio of -53.98 and a beta of 1.11. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two 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 stock has a fifty day moving average price of $155.65 and a 200-day moving average price of $161.03.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares of the company’s stock, valued at approximately $4,363,555.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the 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 approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNOW. Oppenheimer lifted their price objective on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Monness Crespi & Hardt lifted their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Macquarie began coverage on Snowflake in a report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price objective on the stock. UBS Group lifted their price objective on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Truist Financial cut their price objective on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $200.28.

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.