General Catalyst Group Management LLC Acquires Shares of 265,081 Snowflake Inc. (NYSE:SNOW)

General Catalyst Group Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 265,081 shares of the company’s stock, valued at approximately $40,931,000. Snowflake makes up about 3.6% of General Catalyst Group Management LLC’s holdings, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter worth $25,000. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after purchasing an additional 230 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake during the 4th quarter worth $38,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth $30,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNOW has been the topic of several analyst reports. KeyCorp increased their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Monness Crespi & Hardt raised their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler raised their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Loop Capital raised their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Trading Down 2.7 %

NYSE SNOW opened at $183.01 on Thursday. The business has a 50 day simple moving average of $169.02 and a 200 day simple moving average of $137.06. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a market capitalization of $60.41 billion, a P/E ratio of -53.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the completion of the sale, the director now owns 205,965 shares of the company’s stock, valued at approximately $36,867,735. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 504,151 shares of company stock valued at $84,973,139. 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.