Quantbot Technologies LP Sells 63,569 Shares of Snowflake Inc. (NYSE:SNOW)

Quantbot Technologies LP lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 57.0% during the fourth quarter, Holdings Channel reports. The firm owned 47,861 shares of the company’s stock after selling 63,569 shares during the period. Quantbot Technologies LP’s holdings in Snowflake were worth $7,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jennison Associates LLC lifted its position in shares of Snowflake by 92.2% in 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. Ontario Teachers Pension Plan Board raised its position in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Snowflake by 27.9% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Snowflake during the 4th quarter worth $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after acquiring an additional 333,500 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 1.7 %

NYSE:SNOW opened at $149.83 on Friday. The stock has a 50-day simple moving average of $173.36 and a 200 day simple moving average of $147.60. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a market cap of $49.46 billion, a PE ratio of -44.20 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now owns 582,930 shares of the company’s stock, valued at approximately $96,364,158.30. This represents a 0.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares of the company’s stock, valued at $28,345,319.64. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 297,391 shares of company stock valued at $50,053,371 in the last quarter. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNOW shares. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Truist Financial reissued a “buy” rating and issued a $225.00 price objective (up from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. UBS Group boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group lifted their target price on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

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.