Snowflake Inc. (NYSE:SNOW) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,500 shares of the company's stock after selling 22,500 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Snowflake were worth $16,599,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SNOW. Westside Investment Management Inc. boosted its holdings in Snowflake by 47.4% during the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock valued at $1,438,000 after acquiring an additional 3,971 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of Snowflake by 50.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock valued at $535,000 after buying an additional 1,559 shares during the period. Blankinship & Foster LLC acquired a new stake in Snowflake in the third quarter valued at approximately $896,000. Synovus Financial Corp lifted its stake in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock worth $698,000 after acquiring an additional 1,352 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after acquiring an additional 7,373 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now owns 308,164 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm'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 transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,342 shares of company stock worth $61,578,513. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on SNOW shares. Citigroup boosted their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Bank of America boosted their target price on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research note on Thursday, February 20th. StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $200.27.

Snowflake Price Performance

Shares of SNOW stock traded down $0.86 during trading hours on Wednesday, hitting $159.49. The company's stock had a trading volume of 3,364,414 shares, compared to its average volume of 6,385,735. 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 business has a fifty day moving average of $153.86 and a 200-day moving average of $156.33. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock has a market cap of $52.65 billion, a price-to-earnings ratio of -47.05 and a beta of 1.13.

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.