Snowflake Inc. (NYSE:SNOW) is Tairen Capital Ltd's 8th Largest Position

Tairen Capital Ltd trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 57.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,490 shares of the company's stock after selling 192,610 shares during the quarter. Snowflake accounts for approximately 3.2% of Tairen Capital Ltd's investment portfolio, making the stock its 8th biggest position. Tairen Capital Ltd's holdings in Snowflake were worth $21,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake in the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the 4th quarter valued at about $31,000. Colonial Trust Co SC purchased a new position in shares of Snowflake in the 4th quarter valued at about $33,000. Quadrant Capital Group LLC boosted its stake in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted 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 buying an additional 144 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the business's 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 sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock worth $58,204,058 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson cut their target price on Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC raised their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Macquarie began coverage on Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 target price on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, UBS Group lifted their price target on Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Ten equities research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.28.

Snowflake Stock Up 0.0%

Snowflake stock opened at $183.01 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market cap of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11. The stock's 50 day moving average price is $155.65 and its 200 day moving average price is $161.32.

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.

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