Alyeska Investment Group L.P. Has $13.69 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Alyeska Investment Group L.P. decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,638 shares of the company's stock after selling 896,397 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Snowflake were worth $13,687,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Snowflake in the 4th quarter worth $988,950,000. GQG Partners LLC acquired a new stake in Snowflake during the 4th quarter worth about $750,572,000. Jennison Associates LLC boosted its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company's stock, valued at $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE SNOW traded up $3.56 during midday trading on Thursday, reaching $174.12. 3,456,501 shares of the company traded hands, compared to its average volume of 6,389,627. The stock's 50-day simple moving average is $153.27 and its 200-day simple moving average is $157.99. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a market cap of $57.48 billion, a PE ratio of -51.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNOW shares. Loop Capital raised their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus boosted their target price on shares of Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Truist Financial reduced their price objective on Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wolfe Research upgraded shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price on the stock in a research report on Tuesday, February 18th. Finally, Needham & Company LLC raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $200.28.

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.