Renaissance Technologies LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 62.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,000 shares of the company's stock after selling 276,202 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Snowflake worth $25,941,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Jennison Associates LLC increased its position in shares of 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 buying an additional 3,662,671 shares during the period. Norges Bank bought a new stake in Snowflake during the 4th quarter worth approximately $988,950,000. FMR LLC lifted its stake 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 purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new position in Snowflake in the 4th quarter valued at $750,572,000. Finally, Geode Capital Management LLC grew its position in shares of Snowflake by 0.4% during the 4th 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 in the last quarter. 65.10% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SNOW has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a research report on Wednesday, April 2nd. Citigroup lifted their target price on shares of Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Finally, UBS Group increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a 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 given a strong buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average price target of $202.51.
View Our Latest Analysis on SNOW
Snowflake Trading Up 1.4 %
Shares of SNOW stock traded up $2.04 during trading hours on Tuesday, reaching $146.59. The company's stock had a trading volume of 2,381,015 shares, compared to its average volume of 6,422,425. 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 stock has a market capitalization of $48.39 billion, a P/E ratio of -43.24 and a beta of 1.13. The firm's fifty day simple moving average is $161.48 and its 200 day simple moving average is $153.98. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.
Insider Activity at Snowflake
In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake 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 in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock worth $82,405,796 over the last quarter. Corporate insiders own 7.80% of the company's stock.
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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