SPX Gestao de Recursos Ltda Buys New Holdings in Snowflake Inc. (NYSE:SNOW)

SPX Gestao de Recursos Ltda purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $3,088,000.

Other hedge funds have also recently bought and sold shares of the company. Clare Market Investments LLC bought a new position in shares of Snowflake during the 4th quarter worth about $497,000. Independent Advisor Alliance lifted its holdings in shares of Snowflake by 25.7% during the 4th quarter. Independent Advisor Alliance now owns 5,126 shares of the company's stock worth $792,000 after acquiring an additional 1,048 shares during the period. Gallagher Capital Advisors LLC bought a new position in shares of Snowflake during the 4th quarter worth about $2,223,000. Daiwa Securities Group Inc. lifted its holdings in shares of Snowflake by 186.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 76,686 shares of the company's stock worth $11,841,000 after acquiring an additional 49,930 shares during the period. Finally, EPIQ Capital Group LLC lifted its holdings in shares of Snowflake by 8.0% during the 4th quarter. EPIQ Capital Group LLC now owns 2,927 shares of the company's stock worth $452,000 after acquiring an additional 216 shares during the period. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNOW shares. Canaccord Genuity Group raised their price objective on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. UBS Group raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Evercore ISI lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Bank of America lifted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald lifted their price target on shares of Snowflake from $201.00 to $228.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $202.92.

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Snowflake Trading Up 1.5 %

Snowflake stock traded up $2.26 during midday trading on Wednesday, hitting $152.16. 4,461,094 shares of the stock were exchanged, compared to its average volume of 6,427,600. The company has a fifty day simple moving average of $173.55 and a two-hundred day simple moving average of $147.55. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market capitalization of $50.23 billion, a PE ratio of -45.02 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,714 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the transaction, the director now owns 196,454 shares in the company, valued at approximately $33,593,634. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 3,029 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $517,959.00. Following the transaction, the executive vice president now owns 684,639 shares of the company's stock, valued at approximately $117,073,269. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,923 shares of company stock valued at $49,689,983. 7.80% of the stock is currently owned by corporate insiders.

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.