Susquehanna Fundamental Investments LLC Takes $27.05 Million Position in Snowflake Inc. (NYSE:SNOW)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 175,175 shares of the company's stock, valued at approximately $27,049,000. Susquehanna Fundamental Investments LLC owned 0.05% of Snowflake as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Snowflake in the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in Snowflake in the 4th quarter worth about $750,572,000. Jennison Associates LLC increased its stake in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. FMR LLC increased its stake in Snowflake by 84.9% in the 4th 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

NYSE SNOW traded up $6.77 on Thursday, reaching $166.26. The company had a trading volume of 2,948,802 shares, compared to its average volume of 5,528,602. The firm's 50 day moving average price is $153.50 and its 200 day moving average price is $156.35. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a market capitalization of $54.88 billion, a PE ratio of -49.06 and a beta of 1.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Needham & Company LLC increased their price objective on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Piper Sandler reduced their target price on Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group boosted their price objective 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. Finally, BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $200.27.

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company's stock, valued at $56,045,786.68. This represents a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,342 shares of company stock valued at $61,578,513 in the last 90 days. Insiders own 7.80% of the company's stock.

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.