Alight Capital Management LP Has $7.72 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Alight Capital Management LP reduced its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 28.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the company's stock after selling 20,000 shares during the quarter. Snowflake comprises about 2.5% of Alight Capital Management LP's holdings, making the stock its 14th biggest holding. Alight Capital Management LP's holdings in Snowflake were worth $7,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNOW. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Snowflake by 12.4% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,965 shares of the company's stock worth $1,230,000 after acquiring an additional 880 shares during the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter worth $31,000. BlueCrest Capital Management Ltd purchased a new stake in Snowflake during the fourth quarter valued at about $1,421,000. Eagle Strategies LLC purchased a new stake in Snowflake during the fourth quarter valued at about $878,000. Finally, Freestone Grove Partners LP bought a new position in shares of Snowflake during the fourth quarter valued at about $49,072,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SNOW shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a research report on Wednesday, April 2nd. Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Daiwa Capital Markets initiated coverage on Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Piper Sandler dropped their target price on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, DA Davidson reduced their price target on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $200.28.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the sale, the director now directly owns 25,972 shares of the company's stock, valued at $4,363,555.72. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,963 shares of company stock worth $61,001,558. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 0.1 %

SNOW stock traded up $0.21 during trading on Monday, reaching $167.87. 2,493,546 shares of the stock traded hands, compared to its average volume of 6,399,836. The business's 50 day moving average price is $153.46 and its 200-day moving average price is $157.49. Snowflake Inc. has a 52-week low of $107.13 and a 52-week 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. The firm has a market capitalization of $55.41 billion, a PE ratio of -49.52 and a beta of 1.11.

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.