ABC Arbitrage SA Takes Position in Snowflake Inc. (NYSE:SNOW)

ABC Arbitrage SA bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,659 shares of the company's stock, valued at approximately $1,491,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the fourth quarter worth $29,000. Groupama Asset Managment purchased a new position in Snowflake in the 3rd quarter worth about $25,000. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock valued at $38,000 after buying an additional 230 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake in the 4th quarter worth about $38,000. 65.10% of the stock is currently owned by institutional investors.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company's stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 over the last three months. Company insiders own 7.80% of the company's stock.

Snowflake Stock Performance

NYSE SNOW traded down $6.34 on Wednesday, hitting $186.44. 5,070,356 shares of the company's stock traded hands, compared to its average volume of 5,161,049. The firm has a market capitalization of $61.54 billion, a PE ratio of -55.00 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66. The firm's 50-day moving average price is $172.08 and its two-hundred day moving average price is $142.71. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNOW shares. Needham & Company LLC boosted their price target on Snowflake from $160.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Barclays upgraded Snowflake from an "equal weight" rating to an "overweight" rating and set a $190.00 target price for the company in a report on Friday, January 10th. Wells Fargo & Company upgraded Snowflake from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. UBS Group upped their price objective on shares of Snowflake from $155.00 to $190.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Citigroup cut their target price on shares of Snowflake from $200.00 to $183.00 and set a "buy" rating on the stock in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $190.75.

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.