Quantbot Technologies LP Acquires 32,712 Shares of Snowflake Inc. (NYSE:SNOW)

Quantbot Technologies LP increased its holdings in Snowflake Inc. (NYSE:SNOW) by 41.6% in the third quarter, Holdings Channel reports. The institutional investor owned 111,430 shares of the company’s stock after buying an additional 32,712 shares during the period. Snowflake makes up 0.5% of Quantbot Technologies LP’s holdings, making the stock its 14th largest holding. Quantbot Technologies LP’s holdings in Snowflake were worth $12,799,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Comerica Bank boosted its position in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after acquiring an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after purchasing an additional 43,062 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter worth $29,000. Finally, Fulton Bank N.A. boosted its stake in Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after buying an additional 228 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNOW has been the subject of several research analyst reports. Jefferies Financial Group boosted their target price on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Scotiabank decreased their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Monness Crespi & Hardt lifted their price target on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,126 shares of company stock worth $28,058,461. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Up 2.5 %

Shares of NYSE SNOW opened at $171.60 on Tuesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a market capitalization of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. The firm’s 50-day moving average price is $121.23 and its 200-day moving average price is $127.91.

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.