Twenty Acre Capital LP increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,700 shares of the company's stock after purchasing an additional 5,300 shares during the quarter. Snowflake accounts for about 6.6% of Twenty Acre Capital LP's investment portfolio, making the stock its 7th largest holding. Twenty Acre Capital LP's holdings in Snowflake were worth $8,137,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew 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 worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. Norges Bank bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $988,950,000. FMR LLC boosted its position in shares of Snowflake by 84.9% during the fourth 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 bought a new position in Snowflake in the 4th quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC increased its position in 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 acquiring an additional 15,314 shares during the period. Institutional investors own 65.10% of the company's stock.
Insider Buying and Selling at Snowflake
In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now owns 195,281 shares of the company's stock, valued at $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock valued at $82,405,796 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. Stifel Nicolaus lifted their target price on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. DA Davidson cut 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. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Finally, Barclays raised their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $201.76.
Check Out Our Latest Stock Analysis on SNOW
Snowflake Stock Performance
Shares of NYSE SNOW traded down $2.74 during mid-day trading on Friday, hitting $143.34. The company had a trading volume of 2,483,780 shares, compared to its average volume of 6,427,039. 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 company has a market capitalization of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13. The stock's 50-day moving average price is $159.07 and its 200-day moving average price is $154.66.
Snowflake Company Profile
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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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