Thematics Asset Management Acquires 48,804 Shares of Snowflake Inc. (NYSE:SNOW)

Thematics Asset Management lifted its stake in Snowflake Inc. (NYSE:SNOW) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 350,856 shares of the company’s stock after purchasing an additional 48,804 shares during the quarter. Snowflake comprises 1.6% of Thematics Asset Management’s portfolio, making the stock its 14th biggest holding. Thematics Asset Management owned about 0.10% of Snowflake worth $40,299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC purchased a new position in Snowflake in the 1st quarter worth about $29,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Global Financial Private Client LLC bought a new position in Snowflake in the first quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in Snowflake during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNOW. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Barclays increased their target price on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Stock Up 1.4 %

Shares of NYSE SNOW traded up $2.37 during midday trading on Tuesday, hitting $173.79. The stock had a trading volume of 2,502,633 shares, compared to its average volume of 6,791,069. The stock has a 50 day simple moving average of $121.23 and a 200-day simple moving average of $127.91. The company has a market capitalization of $58.25 billion, a PE ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on 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 directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,126 shares of company stock valued at $28,058,461. 7.80% of the stock is owned by 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.