Soros Fund Management LLC Sells 21,406 Shares of Snowflake Inc. (NYSE:SNOW)

Soros Fund Management LLC decreased its stake in Snowflake Inc. (NYSE:SNOW) by 85.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,594 shares of the company’s stock after selling 21,406 shares during the quarter. Soros Fund Management LLC’s holdings in Snowflake were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its stake in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Legal & General Group Plc lifted its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Snowflake by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after purchasing an additional 51,366 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Snowflake by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after purchasing an additional 8,743 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNOW shares. Truist Financial reissued a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Monness Crespi & Hardt raised their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America raised their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. TD Cowen raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

Snowflake Price Performance

Shares of NYSE SNOW opened at $183.53 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a 50-day moving average price of $131.51 and a 200-day moving average price of $129.20. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 294,278 shares of company stock worth $47,825,233. 7.80% of the stock is owned by 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.