Snowflake Inc. (NYSE:SNOW) Stock Position Reduced by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 36.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,417,698 shares of the company's stock after selling 809,286 shares during the period. Two Sigma Investments LP owned about 0.43% of Snowflake worth $218,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Norges Bank purchased a new position in Snowflake during the fourth quarter valued at approximately $988,950,000. GQG Partners LLC bought a new stake in Snowflake in the fourth quarter worth approximately $750,572,000. Jennison Associates LLC grew its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. FMR LLC grew its position in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on SNOW shares. Stifel Nicolaus boosted their target price on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC boosted their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. UBS Group boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Finally, Citigroup boosted their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $200.28.

Snowflake Trading Up 0.0%

Shares of SNOW stock opened at $183.01 on Monday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The stock has a market cap of $60.41 billion, a price-to-earnings ratio of -53.98 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. The firm has a fifty day moving average of $155.65 and a 200-day moving average of $161.65.

Insider Activity

In related news, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the 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 sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $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 90 days, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

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.

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