MYDA Advisors LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 5,000 shares of the company’s stock, valued at approximately $1,146,000.
Several other institutional investors also recently made changes to their positions in the stock. Strs Ohio boosted its position in Snowflake by 72.4% during the 4th quarter. Strs Ohio now owns 862 shares of the company’s stock worth $242,000 after buying an additional 362 shares during the period. Victory Capital Management Inc. bought a new stake in Snowflake during the 4th quarter valued at $1,335,000. First Trust Advisors LP bought a new stake in Snowflake during the 4th quarter valued at $34,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Snowflake by 8.2% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,451 shares of the company’s stock worth $1,534,000 after acquiring an additional 414 shares in the last quarter. Finally, California Public Employees Retirement System bought a new stake in shares of Snowflake in the 4th quarter worth $17,998,000. 61.22% of the stock is currently owned by institutional investors.
Shares of Snowflake stock traded down $11.44 on Friday, reaching $237.36. The stock had a trading volume of 210,354 shares, compared to its average volume of 4,322,978. Snowflake Inc. has a 1 year low of $184.71 and a 1 year high of $429.00. The stock has a market capitalization of $68.53 billion and a P/E ratio of -65.47. The stock’s 50 day moving average price is $229.07.
In other Snowflake news, insider Benoit Dageville sold 30,568 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $222.46, for a total transaction of $6,800,157.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dennis Mcmahon sold 9,090 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $220.82, for a total transaction of $2,007,253.80. Following the transaction, the director now owns 133,008 shares in the company, valued at $29,370,826.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 791,937 shares of company stock worth $183,337,250.
Several analysts have recently issued reports on SNOW shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Snowflake from $300.00 to $248.00 and set a “buy” rating for the company in a research note on Thursday, May 27th. Piper Sandler reduced their target price on shares of Snowflake from $312.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group reduced their target price on shares of Snowflake from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Tuesday, May 18th. They noted that the move was a valuation call. Rosenblatt Securities reduced their target price on shares of Snowflake from $270.00 to $265.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citigroup reduced their price target on shares of Snowflake from $325.00 to $295.00 and set a “neutral” rating for the company in a research report on Thursday, March 4th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $280.21.
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.
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