Korea Investment CORP Acquires 120,961 Shares of Snowflake Inc. (NYSE:SNOW)

Korea Investment CORP boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 74.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,576 shares of the company’s stock after purchasing an additional 120,961 shares during the period. Korea Investment CORP owned about 0.09% of Snowflake worth $43,787,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank grew its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in Snowflake in the fourth quarter valued at about $288,000. Independent Advisor Alliance grew its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $5,851,000. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Citigroup lifted their price objective on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. UBS Group upped 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. Truist Financial reiterated a “buy” rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $205.08.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $157.01 on Friday. The company’s fifty day moving average is $172.39 and its 200 day moving average is $150.74. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market cap of $51.83 billion, a PE ratio of -46.31 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value 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 $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 603,968 shares of company stock worth $99,863,550. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.