1,250 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Fayez Sarofim & Co

Fayez Sarofim & Co purchased a new position in Snowflake Inc. (NYSE:SNOW – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,250 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. BlackRock Inc. increased its holdings in Snowflake by 25.7% in the 3rd quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock worth $2,136,029,000 after buying an additional 2,569,953 shares during the period. FMR LLC grew its stake in shares of Snowflake by 120.3% during the 2nd quarter. FMR LLC now owns 3,297,301 shares of the company’s stock worth $458,522,000 after purchasing an additional 1,800,688 shares during the period. Vanguard Group Inc. grew its stake in shares of Snowflake by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock worth $2,939,269,000 after purchasing an additional 1,327,410 shares during the period. State Street Corp grew its stake in shares of Snowflake by 30.6% during the 3rd quarter. State Street Corp now owns 5,657,938 shares of the company’s stock worth $961,623,000 after purchasing an additional 1,324,033 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Snowflake during the 2nd quarter worth approximately $186,647,000. Institutional investors and hedge funds own 65.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Snowflake in a research note on Wednesday, January 18th. They set a “sector perform” rating and a $125.00 price objective on the stock. Cowen dropped their price target on shares of Snowflake from $235.00 to $225.00 in a research note on Thursday, December 1st. Cowen dropped their price target on shares of Snowflake from $235.00 to $225.00 in a research note on Thursday, December 1st. Mizuho dropped their price target on shares of Snowflake from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. Finally, Morgan Stanley dropped their price target on shares of Snowflake from $225.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, March 3rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $187.75.

Snowflake Trading Up 1.5 %

Shares of SNOW opened at $139.82 on Wednesday. The firm has a market cap of $44.97 billion, a P/E ratio of -55.93 and a beta of 0.75. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $246.52. The company’s 50-day moving average price is $148.84 and its 200 day moving average price is $155.67.

Insider Activity at Snowflake

In related news, Director John Dennis Mcmahon sold 1,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $142.65, for a total value of $142,650.00. Following the sale, the director now directly owns 154,902 shares in the company, valued at approximately $22,096,770.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Benoit Dageville sold 57,564 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $140.13, for a total value of $8,066,443.32. Following the sale, the insider now directly owns 14,404 shares in the company, valued at approximately $2,018,432.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dennis Mcmahon sold 1,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $142.65, for a total transaction of $142,650.00. Following the completion of the sale, the director now owns 154,902 shares in the company, valued at $22,096,770.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,318 shares of company stock worth $9,856,800. Company insiders own 8.90% of the company’s stock.

Snowflake Profile

(Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.