Xponance Inc. Raises Stock Position in Snowflake Inc. (NYSE:SNOW)

Xponance Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,243 shares of the company’s stock after buying an additional 4,670 shares during the quarter. Xponance Inc.’s holdings in Snowflake were worth $9,148,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC lifted its position in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of 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 acquiring an additional 2,559,144 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,648 shares of company stock worth $48,387,318. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $154.35 on Wednesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $173.01 and its 200 day simple moving average is $148.93. The firm has a market capitalization of $50.95 billion, a PE ratio of -45.53 and a beta of 1.07.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Scotiabank lifted their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. UBS Group lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Jefferies Financial Group lifted their target price on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

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.