Arrowstreet Capital Limited Partnership lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1,389.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,967 shares of the company's stock after acquiring an additional 680,017 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.22% of Snowflake worth $112,560,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC acquired a new stake in shares of Snowflake during the fourth quarter valued at $288,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $5,851,000. Finally, Stephens Consulting LLC grew its holdings in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.
Analysts Set New Price Targets
Several research firms have commented on SNOW. Bank of America lifted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Oppenheimer lifted their price objective on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $203.05.
Get Our Latest Analysis on Snowflake
Insider Transactions at Snowflake
In related news, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,186 shares of company stock valued at $82,353,709. Insiders own 7.80% of the company's stock.
Snowflake Stock Down 5.7 %
NYSE SNOW traded down $7.96 during trading hours on Friday, reaching $131.94. 2,925,264 shares of the company traded hands, compared to its average volume of 6,375,283. The company has a 50 day moving average of $169.85 and a two-hundred day moving average of $152.00. The stock has a market capitalization of $43.55 billion, a PE ratio of -39.00 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.
About Snowflake
(
Free Report)
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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