Soros Fund Management LLC Purchases 80,106 Shares of Snowflake Inc. (NYSE:SNOW)

Soros Fund Management LLC lifted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 2,228.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,700 shares of the company's stock after acquiring an additional 80,106 shares during the quarter. Soros Fund Management LLC's holdings in Snowflake were worth $12,924,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SNOW. Asset Dedication LLC boosted its stake in Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after purchasing an additional 59 shares in the last quarter. Quarry LP lifted its position in Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group grew its holdings in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Gabelli Funds LLC increased its position in Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after acquiring an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after acquiring an additional 69 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNOW has been the topic of a number of analyst reports. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Truist Financial cut their price target on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Barclays boosted their price objective on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Macquarie started coverage on shares of Snowflake in a report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 target price on the stock. Finally, KeyCorp decreased their price target on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.27.

Snowflake Price Performance

SNOW traded up $6.03 during trading on Thursday, hitting $165.52. 5,100,852 shares of the stock traded hands, compared to its average volume of 6,401,642. The business has a 50 day moving average price of $153.39 and a 200 day moving average price of $156.65. The company has a market cap of $54.64 billion, a price-to-earnings ratio of -48.83 and a beta of 1.13. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the sale, the executive vice president now owns 590,632 shares of the company's stock, valued at $94,501,120. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value 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. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,342 shares of company stock valued at $61,578,513. Corporate insiders own 7.80% of the company's stock.

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.