Snowflake Inc. (NYSE:SNOW) Shares Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,405 shares of the company’s stock after purchasing an additional 4,762 shares during the period. Concentric Capital Strategies LP’s holdings in Snowflake were worth $3,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SNOW. Ontario Teachers Pension Plan Board increased its stake in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares in the last quarter. SG Americas Securities LLC raised its stake in Snowflake by 471.9% in the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after purchasing an additional 526,608 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $172.33 on Tuesday. The stock’s 50-day moving average is $126.17 and its two-hundred day moving average is $128.27. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. 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 note on Thursday, November 21st. Robert W. Baird decreased their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Citigroup cut their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, Jefferies Financial Group boosted their price objective on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 59,617 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $36,789,543.75. This trade represents a 22.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,278 shares of company stock valued at $42,512,248. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Company 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.