Monolith Management Ltd Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

Monolith Management Ltd bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 38,000 shares of the company's stock, valued at approximately $5,868,000. Snowflake makes up 3.0% of Monolith Management Ltd's portfolio, making the stock its 13th largest position.

Several other institutional investors have also made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth about $29,000. Quadrant Capital Group LLC raised its stake in shares of 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 during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after acquiring an additional 144 shares during the last quarter. Perkins Coie Trust Co raised its stake in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after acquiring an additional 230 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on SNOW. Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Wolfe Research upgraded shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Macquarie began coverage on Snowflake in a research note on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $200.27.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The stock was 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 of the company's stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,342 shares of company stock worth $61,578,513 in the last 90 days. Insiders own 7.80% of the company's stock.

Snowflake Stock Down 1.9 %

NYSE:SNOW traded down $3.05 on Wednesday, hitting $157.30. The stock had a trading volume of 1,500,191 shares, compared to its average volume of 5,538,029. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm's fifty day simple moving average is $153.86 and its two-hundred day simple moving average is $156.33. 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 stock has a market cap of $51.92 billion, a P/E ratio of -46.40 and a beta of 1.13.

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.