Aquatic Capital Management LLC Sells 55,168 Shares of Snowflake Inc. (NYSE:SNOW)

Aquatic Capital Management LLC trimmed its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,432 shares of the company's stock after selling 55,168 shares during the period. Snowflake accounts for 0.8% of Aquatic Capital Management LLC's portfolio, making the stock its 14th largest position. Aquatic Capital Management LLC owned 0.06% of Snowflake worth $28,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Asset Dedication LLC boosted its holdings in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group lifted its stake in shares of Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock valued at $454,000 after purchasing an additional 62 shares during the period. Gabelli Funds LLC lifted its stake in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after purchasing an additional 69 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW traded up $6.43 during midday trading on Thursday, hitting $165.92. 3,007,392 shares of the stock traded hands, compared to its average volume of 6,381,955. 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 $54.77 billion, a PE ratio of -48.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business's 50 day moving average price is $153.50 and its two-hundred day moving average price is $156.35.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated 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 transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,342 shares of company stock worth $61,578,513 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research report on Thursday, February 20th. DA Davidson reduced their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Barclays upped their price objective on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

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.