Concentric Capital Strategies LP Purchases 11,936 Shares of Snowflake Inc. (NYSE:SNOW)

Concentric Capital Strategies LP raised its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,341 shares of the company's stock after purchasing an additional 11,936 shares during the quarter. Concentric Capital Strategies LP's holdings in Snowflake were worth $6,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after purchasing an additional 7,373 shares during the period. GAMMA Investing LLC grew its stake in shares of Snowflake by 59.6% during the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company's stock worth $60,000 after purchasing an additional 146 shares during the period. Nordea Investment Management AB grew its stake in shares of Snowflake by 2.3% during the fourth quarter. Nordea Investment Management AB now owns 23,911 shares of the company's stock worth $3,682,000 after purchasing an additional 536 shares during the period. Diversified Trust Co grew its stake in shares of Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company's stock worth $758,000 after purchasing an additional 3,121 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in shares of Snowflake during the fourth quarter worth $216,000. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNOW. KeyCorp decreased their price objective on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Rosenblatt Securities lifted their price objective on Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Bank of America boosted their target price on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Jefferies Financial Group decreased their target price on Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Citigroup boosted their target price on Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $200.28.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 292,610 shares of the company's stock, 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. In the last three months, insiders have sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company's stock.

Snowflake Price Performance

Shares of SNOW traded up $6.22 during mid-day trading on Monday, reaching $180.36. The company had a trading volume of 1,948,080 shares, compared to its average volume of 6,388,345. The company's 50 day simple moving average is $153.28 and its 200 day simple moving average is $159.39. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. 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 company has a market capitalization of $59.54 billion, a price-to-earnings ratio of -53.20 and a beta of 1.11.

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.