Jump Financial LLC Sells 56,742 Shares of Snowflake Inc. (NYSE:SNOW)

Jump Financial LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,966 shares of the company's stock after selling 56,742 shares during the quarter. Jump Financial LLC's holdings in Snowflake were worth $6,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Jennison Associates LLC boosted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. Norges Bank bought a new position in shares of Snowflake during the 4th quarter worth approximately $988,950,000. FMR LLC grew its position in shares of Snowflake by 84.9% during 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. GQG Partners LLC acquired a new stake in Snowflake in the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC raised its holdings in shares of Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of Snowflake stock traded down $2.74 on Friday, hitting $143.34. 2,483,780 shares of the company traded hands, compared to its average volume of 6,421,229. 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. The company has a market cap of $47.32 billion, a P/E ratio of -42.28 and a beta of 1.13. The firm's 50-day simple moving average is $159.07 and its 200 day simple moving average is $154.35.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com raised Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Cantor Fitzgerald restated an "overweight" rating and set a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Jefferies Financial Group lowered their target price on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Oppenheimer increased their price objective on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC increased their price target on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $201.76.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock worth $82,405,796 over the last 90 days. Corporate insiders own 7.80% of the company's stock.

About Snowflake

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.