Allianz SE Invests $279,000 in Snowflake Inc. (NYSE:SNOW)

Allianz SE acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,800 shares of the company’s stock, valued at approximately $279,000.

Several other large investors also recently made changes to their positions in SNOW. Groupama Asset Managment acquired a new position in shares of Snowflake during the third quarter worth approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $29,000. Blue Bell Private Wealth Management LLC lifted its stake in Snowflake by 189.5% in 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 in the last quarter. Perkins Coie Trust Co lifted its position in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Snowflake during the fourth quarter worth about $38,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 4.1 %

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

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNOW. Jefferies Financial Group increased their price objective on Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 21st. UBS Group boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Truist Financial reiterated a “buy” rating and issued a $225.00 price target (up from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Finally, Bank of America boosted their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

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.