Snowflake Inc. (NYSE:SNOW) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 57.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 47,861 shares of the company's stock after selling 63,569 shares during the period. Quantbot Technologies LP's holdings in Snowflake were worth $7,390,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SNOW. Sumitomo Mitsui Trust Group Inc. raised its position in Snowflake by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,858 shares of the company's stock worth $76,366,000 after acquiring an additional 3,487 shares during the period. Ashton Thomas Private Wealth LLC raised its position in Snowflake by 19.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 11,307 shares of the company's stock worth $1,299,000 after acquiring an additional 1,848 shares during the period. Victory Capital Management Inc. raised its position in Snowflake by 49.7% during the third quarter. Victory Capital Management Inc. now owns 420,088 shares of the company's stock worth $48,251,000 after acquiring an additional 139,459 shares during the period. Oppenheimer & Co. Inc. raised its position in Snowflake by 59.9% during the third quarter. Oppenheimer & Co. Inc. now owns 34,851 shares of the company's stock worth $4,003,000 after acquiring an additional 13,053 shares during the period. Finally, Kovack Advisors Inc. raised its position in shares of Snowflake by 39.3% in the third quarter. Kovack Advisors Inc. now owns 3,194 shares of the company's stock valued at $367,000 after buying an additional 901 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNOW shares. Citigroup increased their target price on shares of Snowflake from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Bank of America increased their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Loop Capital increased their target price on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. JMP Securities reiterated a "market outperform" rating and issued a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $202.92.

Insider Activity

In related news, CAO Emily Ho sold 1,508 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares of the company's stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 861 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the sale, the executive vice president now directly owns 582,930 shares in the company, valued at approximately $96,364,158.30. This trade represents a 0.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,648 shares of company stock valued at $48,387,318. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Down 1.3 %

Shares of NYSE SNOW traded down $2.04 during midday trading on Tuesday, hitting $154.35. The company's stock had a trading volume of 4,951,564 shares, compared to its average volume of 6,394,153. The business's fifty day simple moving average is $173.11 and its two-hundred day simple moving average is $148.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market capitalization of $50.95 billion, a price-to-earnings ratio of -45.53 and a beta of 1.07.

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.