ABC Arbitrage SA Invests $1.49 Million in Snowflake Inc. (NYSE:SNOW)

ABC Arbitrage SA purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,659 shares of the company’s stock, valued at approximately $1,491,000.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new position in Snowflake during the 4th quarter worth approximately $288,000. Independent Advisor Alliance boosted its stake in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in Snowflake during the 4th quarter worth approximately $5,851,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 2.5 %

Shares of SNOW opened at $187.86 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $62.01 billion, a P/E ratio of -55.42 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $236.33. The business has a 50-day moving average of $171.51 and a 200 day moving average of $141.67.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on 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 approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock valued at $88,283,752 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNOW. Scotiabank lifted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Profile

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.