Two Sigma Advisers LP Lowers Stock Position in Snowflake Inc. (NYSE:SNOW)

Two Sigma Advisers LP decreased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 33.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,704,800 shares of the company's stock after selling 1,338,400 shares during the period. Snowflake accounts for 1.0% of Two Sigma Advisers LP's investment portfolio, making the stock its 19th largest position. Two Sigma Advisers LP owned about 0.82% of Snowflake worth $417,648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $29,000. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter worth $31,000. Colonial Trust Co SC bought a new stake in Snowflake in the fourth quarter worth $33,000. Quadrant Capital Group LLC boosted its holdings in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Snowflake by 189.5% during the fourth 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. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Price Performance

Snowflake stock traded up $24.23 during trading hours on Thursday, reaching $203.35. 26,161,167 shares of the stock were exchanged, compared to its average volume of 6,502,813. The stock has a 50 day moving average of $157.35 and a two-hundred day moving average of $162.37. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $203.84. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $67.13 billion, a P/E ratio of -59.99 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. Equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho increased their target price on Snowflake from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday. Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. KeyCorp decreased their price target on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Raymond James raised their price target on Snowflake from $196.00 to $212.00 and gave the stock an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $215.27.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the transaction, the executive vice president now owns 580,632 shares in the company, valued at approximately $97,546,176. This trade represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock worth $58,204,058 in the last ninety days. Company insiders own 7.80% of the company's stock.

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.