ZEGA Investments LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

ZEGA Investments LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, HoldingsChannel reports. The fund purchased 3,442 shares of the company’s stock, valued at approximately $531,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. 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 acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Snowflake by 2.7% during 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 worth $222,344,000 after purchasing an additional 51,366 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 3,765 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $586,172.85. Following the completion of the sale, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 298,429 shares of company stock valued at $50,065,812. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNOW shares. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Cantor Fitzgerald increased their price target on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price target on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Price Performance

Shares of SNOW opened at $157.94 on Friday. The firm has a market capitalization of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. 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 firm’s fifty day simple moving average is $172.74 and its 200-day simple moving average is $149.34. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

About Snowflake

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.