33,306 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Y Intercept Hong Kong Ltd

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

Several other institutional investors have also recently bought and sold shares of SNOW. Jennison Associates LLC raised its stake in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its stake in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup decreased their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Cantor Fitzgerald initiated coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC upped their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One investment 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 given a strong buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $193.43.

Snowflake Stock Down 3.9 %

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

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 59,617 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at $36,789,543.75. This represents a 22.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 392,324 shares of company stock valued at $66,935,828. Company 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.