Envestnet Asset Management Inc. Has $40.62 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Envestnet Asset Management Inc. grew its position in Snowflake Inc. (NYSE:SNOW) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,073 shares of the company’s stock after buying an additional 57,337 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Snowflake worth $40,621,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SNOW. Jennison Associates LLC grew its holdings in shares of Snowflake by 92.2% during the fourth 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 in the last quarter. Norges Bank acquired a new stake in Snowflake during the 4th quarter worth about $988,950,000. GQG Partners LLC purchased a new position in Snowflake during the 4th quarter valued at about $750,572,000. Geode Capital Management LLC increased its holdings in shares of Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after purchasing an additional 15,314 shares during the period. Finally, Groupama Asset Managment lifted its position in shares of Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. 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 report on Thursday, February 27th. Royal Bank of Canada boosted their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research note on Tuesday, February 18th. Macquarie started coverage on Snowflake in a research report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Mizuho upped their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.84.

Snowflake Stock Performance

NYSE SNOW opened at $144.84 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. 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 stock has a market cap of $47.81 billion, a P/E ratio of -42.72 and a beta of 1.13. The company’s 50-day simple moving average is $163.16 and its 200 day simple moving average is $153.53.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is currently owned by corporate 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.