Schonfeld Strategic Advisors LLC Purchases 37,940 Shares of Snowflake Inc. (NYSE:SNOW)

Schonfeld Strategic Advisors LLC lifted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 335.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,259 shares of the company's stock after acquiring an additional 37,940 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Snowflake were worth $7,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at $750,572,000. Jennison Associates LLC raised 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 worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. FMR LLC lifted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after acquiring an additional 2,200,406 shares during the period. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNOW. Truist Financial cut their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Needham & Company LLC lifted their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price objective on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Daiwa Capital Markets began coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $200.28.

Snowflake Stock Performance

NYSE:SNOW traded up $0.21 during mid-day trading on Monday, hitting $167.87. 2,493,546 shares of the stock were exchanged, compared to its average volume of 6,399,829. 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 firm's 50-day simple moving average is $153.46 and its 200 day simple moving average is $157.49. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market capitalization of $55.41 billion, a price-to-earnings ratio of -49.52 and a beta of 1.11.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The stock was 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 directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the sale, the executive vice president now directly owns 590,632 shares in the company, valued at approximately $94,501,120. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 361,560 shares of company stock valued at $59,253,850. 7.80% of the stock is currently owned by corporate insiders.

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.