Two Sigma Advisers LP increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 27.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,043,200 shares of the company's stock after purchasing an additional 881,700 shares during the quarter. Snowflake accounts for about 1.1% of Two Sigma Advisers LP's investment portfolio, making the stock its 17th largest holding. Two Sigma Advisers LP owned approximately 1.21% of Snowflake worth $464,402,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. LRI Investments LLC lifted its stake in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the third quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the second quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares of the company's stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,278 shares of company stock valued at $47,825,233. Corporate insiders own 7.80% of the company's stock.
NYSE:SNOW opened at $183.02 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a fifty day simple moving average of $131.51 and a 200 day simple moving average of $129.20. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of -53.99 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
SNOW has been the topic of several recent analyst reports. TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Argus assumed coverage on Snowflake in a research note on Tuesday, October 1st. They set a "hold" rating for the company. Bank of America raised their price target on shares of Snowflake from $160.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Loop Capital reduced their price objective on shares of Snowflake from $225.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $181.80.
Check Out Our Latest Research Report on SNOW
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.
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