Snowflake Inc. (NYSE:SNOW) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in Snowflake Inc. (NYSE:SNOW) by 57.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,861 shares of the company’s stock after selling 63,569 shares during the quarter. Quantbot Technologies LP’s holdings in Snowflake were worth $7,390,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Groupama Asset Managment acquired a new stake in Snowflake in the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at about $29,000. Blue Bell Private Wealth Management LLC lifted its position in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Snowflake in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’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 sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 297,391 shares of company stock valued at $50,053,371 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Down 1.7 %

Shares of SNOW opened at $149.83 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The stock has a market capitalization of $49.46 billion, a P/E ratio of -44.20 and a beta of 1.07. The business’s 50-day moving average price is $173.36 and its 200 day moving average price is $147.60.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNOW shares. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Cantor Fitzgerald boosted their price objective on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Canaccord Genuity Group raised their target price on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and set a $225.00 price target (up previously from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.92.

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.