Concentric Capital Strategies LP Has $6.08 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Concentric Capital Strategies LP grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 43.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,341 shares of the company's stock after acquiring an additional 11,936 shares during the period. Concentric Capital Strategies LP's holdings in Snowflake were worth $6,075,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake during the fourth quarter worth about $31,000. Quadrant Capital Group LLC raised its holdings in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Finally, Perkins Coie Trust Co grew its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the transaction, the director now owns 25,972 shares of the company's stock, valued at $4,363,555.72. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on 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 in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 in the last quarter. 7.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. Oppenheimer increased their price target on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Loop Capital lifted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Bank of America lifted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, DA Davidson decreased their price objective 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. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.28.

Snowflake Price Performance

Shares of NYSE SNOW traded up $0.17 during trading on Friday, hitting $174.14. The company had a trading volume of 2,594,452 shares, compared to its average volume of 6,389,773. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The business's 50-day moving average is $153.28 and its 200 day moving average is $158.77. The company has a market cap of $57.48 billion, a P/E ratio of -51.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.