Y Intercept Hong Kong Ltd Takes $5.14 Million Position in Snowflake Inc. (NYSE:SNOW)

Y Intercept Hong Kong Ltd bought a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,306 shares of the company’s stock, valued at approximately $5,143,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Snowflake by 168.5% in the 3rd quarter. Blue Trust Inc. now owns 1,407 shares of the company’s stock worth $162,000 after purchasing an additional 883 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares during the period. Signaturefd LLC raised its holdings in Snowflake by 13.0% during the 3rd quarter. Signaturefd LLC now owns 2,161 shares of the company’s stock valued at $248,000 after buying an additional 248 shares during the period. International Assets Investment Management LLC raised its holdings in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares during the period. Finally, Allworth Financial LP raised its holdings in Snowflake by 2,650.2% during the 3rd quarter. Allworth Financial LP now owns 18,674 shares of the company’s stock valued at $2,145,000 after buying an additional 17,995 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNOW. Wolfe Research raised 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 note on Tuesday, February 18th. Needham & Company LLC increased their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Royal Bank of Canada increased their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald began coverage on Snowflake in a research note on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $193.43.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the transaction, the executive now directly owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,324 shares of company stock valued at $66,935,828. Insiders own 7.80% of the company’s stock.

Snowflake Trading Down 3.9 %

Snowflake stock opened at $177.79 on Monday. The stock has a 50-day moving average price of $172.88 and a 200 day moving average price of $144.17. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66. The stock has a market cap of $58.69 billion, a PE ratio of -52.45 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.