Aquatic Capital Management LLC Sells 55,168 Shares of Snowflake Inc. (NYSE:SNOW)

Aquatic Capital Management LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 187,432 shares of the company's stock after selling 55,168 shares during the period. Snowflake comprises approximately 0.8% of Aquatic Capital Management LLC's holdings, making the stock its 14th largest position. Aquatic Capital Management LLC owned approximately 0.06% of Snowflake worth $28,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Norges Bank bought a new stake in Snowflake during the fourth quarter valued at about $988,950,000. GQG Partners LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC boosted its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. Stifel Nicolaus increased their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, February 27th. UBS Group increased their price target on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Piper Sandler cut their price objective on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, KeyCorp lowered their target price on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

NYSE SNOW opened at $158.26 on Friday. The stock has a market capitalization of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock has a 50-day moving average of $154.91 and a 200 day moving average of $155.59. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.

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