Snowflake Inc. (NYSE:SNOW) Shares Sold by Madrona Venture Group LLC

Madrona Venture Group LLC reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 46.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,633 shares of the company’s stock after selling 200,000 shares during the quarter. Snowflake accounts for approximately 66.5% of Madrona Venture Group LLC’s portfolio, making the stock its largest holding. Madrona Venture Group LLC owned 0.07% of Snowflake worth $35,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter valued at about $988,950,000. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $750,572,000. Jennison Associates LLC grew its holdings in 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 buying an additional 3,662,671 shares during the last quarter. FMR LLC grew its holdings in 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 buying an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after buying 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 Up 0.3%

Shares of Snowflake stock opened at $181.09 on Wednesday. The business has a 50-day moving average price of $153.84 and a 200 day moving average price of $159.99. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market cap of $59.78 billion, a P/E ratio of -53.42 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other Snowflake news, 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 of the company’s stock, valued at $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SNOW shares. Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. UBS Group upped their target price on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Loop Capital lifted their price target on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Mizuho lifted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price 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.