Lazard Asset Management LLC Boosts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Lazard Asset Management LLC raised its holdings in Snowflake Inc. (NYSE:SNOW) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,658 shares of the company’s stock after purchasing an additional 2,034 shares during the period. Lazard Asset Management LLC’s holdings in Snowflake were worth $2,108,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Asset Dedication LLC grew its stake in 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. Quarry LP grew its stake in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after acquiring an additional 59 shares in the last quarter. Gabelli Funds LLC grew its stake in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after acquiring an additional 65 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after acquiring an additional 69 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SNOW shares. Loop Capital boosted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. Barclays lifted their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus lifted their target price on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Stock Up 0.0%

Shares of Snowflake stock opened at $183.01 on Friday. 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 company’s fifty day simple moving average is $155.65 and its two-hundred day simple moving average is $161.32. The company has a market cap of $60.41 billion, a P/E ratio of -53.98 and a beta of 1.11. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the transaction, the director now directly owns 25,972 shares in the company, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is currently owned by company insiders.

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.