Snowflake Inc. (NYSE:SNOW) Position Boosted by Breakwater Capital Group

Breakwater Capital Group lifted its stake in Snowflake Inc. (NYSE:SNOW) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 2,938 shares of the company’s stock after purchasing an additional 62 shares during the quarter. Breakwater Capital Group’s holdings in Snowflake were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Oppenheimer Asset Management Inc. raised its holdings in shares of Snowflake by 4.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,571 shares of the company’s stock valued at $3,184,000 after purchasing an additional 1,085 shares in the last quarter. Plato Investment Management Ltd increased its position in Snowflake by 107.6% during the second quarter. Plato Investment Management Ltd now owns 467 shares of the company’s stock worth $63,000 after buying an additional 242 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Snowflake by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after buying an additional 56,027 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Snowflake by 29.2% in the second quarter. Renaissance Technologies LLC now owns 624,502 shares of the company’s stock worth $84,364,000 after buying an additional 141,300 shares during the last quarter. Finally, Andar Capital Management HK Ltd bought a new stake in shares of Snowflake during the 2nd quarter worth about $1,891,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snowflake 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 value of $2,700,000.00. Following the completion of the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 in the last three months. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $163.40 on Wednesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm’s 50-day moving average price is $158.33 and its two-hundred day moving average price is $134.37. 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 stock has a market capitalization of $53.94 billion, a price-to-earnings ratio of -48.20 and a beta of 1.05.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. 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. TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI upped their price objective on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital lifted their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.69.

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.