Snowflake Inc. $SNOW Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 51.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,790 shares of the company’s stock after selling 82,462 shares during the quarter. Quadrature Capital Ltd’s holdings in Snowflake were worth $17,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the second quarter valued at $3,900,134,000. Nuveen LLC acquired a new stake in Snowflake in the 1st quarter valued at about $555,847,000. AQR Capital Management LLC boosted its stake in shares of Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after buying an additional 2,460,769 shares during the period. Jennison Associates LLC grew its position in shares of Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after buying an additional 763,673 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Bank of America lifted their price objective on shares of Snowflake from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Mizuho increased their target price on Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Snowflake in a research note on Friday, October 17th. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.22.

Snowflake Stock Performance

NYSE SNOW opened at $249.01 on Friday. The company has a fifty day moving average of $248.55 and a two-hundred day moving average of $223.45. The company has a market capitalization of $84.37 billion, a PE ratio of -60.00 and a beta of 1.23. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 31.8% compared to the same quarter last year. As a group, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the transaction, the executive vice president owned 532,450 shares of the company’s stock, valued at $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the completion of the sale, the director owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 221,305 shares of company stock worth $52,925,799. 6.80% of the stock is owned by corporate insiders.

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.