Amitell Capital Pte Ltd Cuts Stake in Snowflake Inc. (NYSE:SNOW)

Amitell Capital Pte Ltd decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 25.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,400 shares of the company’s stock after selling 9,790 shares during the quarter. Snowflake accounts for approximately 3.7% of Amitell Capital Pte Ltd’s investment portfolio, making the stock its 10th biggest holding. Amitell Capital Pte Ltd’s holdings in Snowflake were worth $4,540,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SNOW. Jennison Associates LLC grew its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new position in Snowflake during the fourth quarter worth about $988,950,000. FMR LLC boosted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC bought a new stake in Snowflake in the 4th quarter worth about $750,572,000. Finally, Geode Capital Management LLC increased its stake in Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock valued at $642,742,000 after buying an additional 15,314 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW opened at $130.75 on Tuesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $43.16 billion, a PE ratio of -38.57 and a beta of 1.13. The stock has a 50-day moving average price of $168.08 and a 200-day moving average price of $152.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Monness Crespi & Hardt boosted their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. KeyCorp boosted their price objective on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Daiwa Capital Markets assumed coverage on Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $183.00 target price on shares of Snowflake in a research note on Wednesday, April 2nd. Finally, Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.84.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock valued at $82,405,796 over the last three months. 7.80% of the stock is owned by corporate insiders.

Snowflake 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.