BlueCrest Capital Management Ltd bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,200 shares of the company's stock, valued at approximately $1,421,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Westside Investment Management Inc. increased its stake in Snowflake by 47.4% in the third 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 last quarter. Wilmington Savings Fund Society FSB lifted its stake in Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after purchasing an additional 1,559 shares during the last quarter. Blankinship & Foster LLC bought a new position in shares of Snowflake in the 3rd quarter valued at $896,000. Synovus Financial Corp raised its holdings in shares of Snowflake by 28.6% during the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock worth $698,000 after buying an additional 1,352 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of 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 buying an additional 7,373 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.
Snowflake Stock Performance
Shares of NYSE SNOW traded up $2.35 during trading on Friday, reaching $167.71. 3,331,414 shares of the stock traded hands, compared to its average volume of 6,415,425. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $55.36 billion, a P/E ratio of -49.47 and a beta of 1.11. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a 50-day moving average of $153.46 and a 200-day moving average of $157.22.
Insiders Place Their Bets
In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,342 shares of company stock worth $61,578,513 over the last quarter. 7.80% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
SNOW has been the subject of several research analyst reports. Truist Financial lowered their target price on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price on the stock. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Rosenblatt Securities raised their price objective on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price for the company in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $200.28.
Get Our Latest Stock Report on SNOW
About Snowflake
(
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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