Formula Growth Ltd. decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 81.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the company's stock after selling 30,000 shares during the period. Formula Growth Ltd.'s holdings in Snowflake were worth $1,081,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at about $29,000. Quadrant Capital Group LLC grew its holdings in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co lifted its holdings in shares of Snowflake by 136.3% in 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 during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Snowflake during the 4th quarter valued at approximately $38,000. 65.10% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Snowflake
In other news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated 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 transaction, the executive now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho upped their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Piper Sandler lowered their target price on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Daiwa Capital Markets assumed coverage on Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Ten investment 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 MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $200.27.
Get Our Latest Report on Snowflake
Snowflake Stock Up 6.6 %
NYSE SNOW traded up $9.74 on Thursday, reaching $157.13. The stock had a trading volume of 3,439,566 shares, compared to its average volume of 5,645,895. 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 Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The business has a 50 day moving average price of $156.19 and a 200 day moving average price of $154.97. The company has a market capitalization of $51.87 billion, a price-to-earnings ratio of -46.45 and a beta of 1.13.
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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