Anomaly Capital Management LP Makes New $22.29 Million Investment in Snowflake Inc. (NYSE:SNOW)

Anomaly Capital Management LP bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 144,327 shares of the company's stock, valued at approximately $22,286,000.

Several other large investors also recently made changes to their positions in the company. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $5,851,000. Stephens Consulting LLC raised its stake in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC raised its stake in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock valued at $2,458,000 after purchasing an additional 4,559 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Stock Down 0.3 %

Shares of SNOW traded down $0.40 during mid-day trading on Friday, hitting $158.26. 4,161,157 shares of the company's stock were exchanged, compared to its average volume of 6,426,335. The stock has a market cap of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13. The firm has a fifty day moving average of $154.91 and a two-hundred day moving average of $156.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson lowered their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Truist Financial lowered their price objective on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, Mizuho lifted their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Ten 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

Insiders Place Their Bets

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated 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 transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 364,342 shares of company stock valued at $59,978,513 over the last quarter. Insiders own 7.80% of the company's stock.

Snowflake Company 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.