Anomaly Capital Management LP Takes $22.29 Million Position in Snowflake Inc. (NYSE:SNOW)

Anomaly Capital Management LP purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 144,327 shares of the company’s stock, valued at approximately $22,286,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC raised its holdings in shares of Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after buying an additional 144 shares during the period. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Snowflake in the 4th quarter valued at $38,000. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. The trade was a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock valued at $82,405,796 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNOW shares. Daiwa America raised shares of Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. Macquarie initiated coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price target on the stock. UBS Group lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their target price on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Wolfe Research raised shares of 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. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Snowflake Trading Down 4.7 %

Shares of SNOW stock opened at $136.76 on Tuesday. The firm’s 50-day simple moving average is $158.05 and its 200-day simple moving average is $155.12. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The firm has a market cap of $45.14 billion, a P/E ratio of -40.34 and a beta of 1.13.

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.