GMT Capital Corp Invests $3.40 Million in Snowflake Inc. (NYSE:SNOW)

GMT Capital Corp bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,000 shares of the company's stock, valued at approximately $3,397,000.

A number of other large investors have also modified their holdings of the business. Jennison Associates LLC grew its stake in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC increased its holdings in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC purchased a new position in Snowflake during the fourth quarter worth approximately $750,572,000. Finally, Geode Capital Management LLC boosted its stake in Snowflake by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after buying an additional 15,314 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup lifted their price target on Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Bank of America lifted their target price 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. DA Davidson dropped their price target on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $200.27.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on 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 transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 364,342 shares of company stock valued at $59,978,513. Insiders own 7.80% of the company's stock.

Snowflake Stock Performance

NYSE:SNOW traded down $0.69 during trading hours on Monday, reaching $157.71. 893,530 shares of the company's stock were exchanged, compared to its average volume of 6,404,439. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of -46.40 and a beta of 1.13. The company has a 50-day moving average of $154.91 and a 200 day moving average of $156.06.

About Snowflake

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.