Quantinno Capital Management LP Increases Position in Snowflake Inc. (NYSE:SNOW)

Quantinno Capital Management LP lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 21.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,880 shares of the company's stock after acquiring an additional 7,474 shares during the period. Quantinno Capital Management LP's holdings in Snowflake were worth $6,467,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC grew its position in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Colonial Trust Co SC bought a new stake in Snowflake in the 4th quarter worth approximately $33,000. Finally, Blue Bell Private Wealth Management LLC raised its position in 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 period. Institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Barclays upped their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group increased their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $201.00.

Insider Activity at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $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 356,963 shares of company stock worth $58,204,058 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Up 0.4%

Snowflake stock traded up $0.76 during trading hours on Tuesday, reaching $182.81. The company had a trading volume of 4,216,765 shares, compared to its average volume of 6,409,322. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a 50-day moving average price of $156.24 and a 200 day moving average price of $162.11. The firm has a market cap of $60.35 billion, a price-to-earnings ratio of -53.93 and a beta of 1.11. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

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.