Point72 Asia Singapore Pte. Ltd. Has $595,000 Stake in Snowflake Inc. (NYSE:SNOW)

Point72 Asia Singapore Pte. Ltd. reduced its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 93.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,854 shares of the company's stock after selling 53,330 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Snowflake were worth $595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the 4th quarter worth $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at about $31,000. Quadrant Capital Group LLC raised its holdings in shares of Snowflake by 74.6% during 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 in the last quarter. Colonial Trust Co SC purchased a new position in shares of Snowflake during the 4th quarter valued at about $33,000. Finally, Blue Bell Private Wealth Management LLC grew its position in Snowflake by 189.5% during the 4th 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.8%

Shares of SNOW stock opened at $182.90 on Friday. The firm has a market capitalization of $60.38 billion, a P/E ratio of -53.95 and a beta of 1.11. The firm's fifty day moving average price is $154.99 and its two-hundred day moving average price is $160.58. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were 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 approximately $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the 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 transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock worth $58,204,058 over the last quarter. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Bank of America boosted their target price on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Needham & Company LLC boosted their price target on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company reduced their price objective on Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $200.28.

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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