Allianz SE Acquires New Shares in Snowflake Inc. (NYSE:SNOW)

Allianz SE acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,800 shares of the company’s stock, valued at approximately $279,000.

A number of other hedge funds also recently bought and sold shares of SNOW. Stonebridge Financial Group LLC purchased a new position in Snowflake in the fourth quarter worth about $29,000. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter worth approximately $25,000. Blue Bell Private Wealth Management LLC grew its position in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares during the period. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 4.1 %

Shares of Snowflake stock opened at $150.60 on Monday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a 50 day moving average of $171.99 and a 200 day moving average of $151.58. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07.

Insider Buying and Selling

In other news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 503,968 shares of company stock worth $84,363,550. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SNOW shares. Wells Fargo & Company upped their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Jefferies Financial Group upped their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, KeyCorp boosted their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

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.