AMF Tjanstepension AB Invests $8.56 Million in Snowflake Inc. (NYSE:SNOW)

AMF Tjanstepension AB bought a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 55,461 shares of the company’s stock, valued at approximately $8,564,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC raised its stake in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. State Street Corp raised its stake in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares in the last quarter. Geode Capital Management LLC raised its stake in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP raised its stake in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 594,975 shares of the company’s stock, valued at $102,186,956.25. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 297,193 shares of company stock valued at $50,096,313 in the last quarter. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SNOW shares. Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Rosenblatt Securities increased their price target 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. Monness Crespi & Hardt increased their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Needham & Company LLC increased their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Performance

Shares of Snowflake stock opened at $158.54 on Friday. The business has a fifty day simple moving average of $173.79 and a two-hundred day simple moving average of $147.00. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $52.33 billion, a P/E ratio of -46.77 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

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.