Trexquant Investment LP Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Trexquant Investment LP increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,421 shares of the company's stock after purchasing an additional 25,133 shares during the quarter. Trexquant Investment LP's holdings in Snowflake were worth $18,131,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SNOW. Geode Capital Management LLC lifted its stake in shares of Snowflake by 0.4% in 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 during the period. Nemes Rush Group LLC boosted its stake in shares of Snowflake by 51.6% during the 4th quarter. Nemes Rush Group LLC now owns 3,143 shares of the company's stock worth $485,000 after acquiring an additional 1,070 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Snowflake by 12.6% during the 4th quarter. Franklin Resources Inc. now owns 603,994 shares of the company's stock valued at $93,263,000 after acquiring an additional 67,406 shares during the period. Alliancebernstein L.P. raised its holdings in Snowflake by 132.1% in the 4th quarter. Alliancebernstein L.P. now owns 282,696 shares of the company's stock worth $43,651,000 after purchasing an additional 160,888 shares during the period. Finally, Bedell Frazier Investment Counselling LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

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Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company's stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock worth $82,353,709 over the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Down 6.8 %

Shares of NYSE SNOW traded down $9.49 during trading on Friday, reaching $130.41. The company had a trading volume of 8,210,700 shares, compared to its average volume of 6,400,660. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business's 50-day moving average is $168.97 and its 200 day moving average is $152.40. The stock has a market cap of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNOW. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Canaccord Genuity Group raised their price objective on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Needham & Company LLC upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Macquarie initiated coverage on shares of Snowflake in a research report on Wednesday. They set a "neutral" rating and a $160.00 price target on the stock. Finally, StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Ten 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $203.05.

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.