Twenty Acre Capital LP Takes $5.44 Million Position in Snowflake Inc. (NYSE:SNOW)

Twenty Acre Capital LP purchased a new position in Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 47,400 shares of the company’s stock, valued at approximately $5,444,000. Snowflake accounts for about 4.8% of Twenty Acre Capital LP’s holdings, making the stock its 13th largest position.

A number of other hedge funds also recently bought and sold shares of the business. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.6 %

Shares of NYSE:SNOW opened at $174.83 on Friday. The company has a market cap of $58.60 billion, a PE ratio of -51.57 and a beta of 0.83. The company’s 50 day moving average is $126.17 and its 200 day moving average is $128.74. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,661 shares of company stock worth $32,004,752. 7.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNOW. Wedbush raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Monday, November 25th. Jefferies Financial Group raised their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Stifel Nicolaus reduced their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, KeyCorp upped their price target on shares of Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

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.