Key Square Capital Management LLC Takes $3.89 Million Position in Snowflake Inc. (NYSE:SNOW)

Key Square Capital Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOWGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,970 shares of the company’s stock, valued at approximately $3,889,000. Snowflake comprises 2.0% of Key Square Capital Management LLC’s holdings, making the stock its 15th largest position.

A number of other institutional investors have also modified their holdings of the company. SC US Ttgp LTD. increased its position in Snowflake by 13.5% during the first quarter. SC US Ttgp LTD. now owns 13,709,218 shares of the company’s stock worth $3,141,193,000 after purchasing an additional 1,634,929 shares during the last quarter. BlackRock Inc. increased its position in Snowflake by 18.2% during the first quarter. BlackRock Inc. now owns 11,379,286 shares of the company’s stock worth $2,607,336,000 after purchasing an additional 1,751,250 shares during the last quarter. Capital Research Global Investors increased its position in Snowflake by 4.5% during the first quarter. Capital Research Global Investors now owns 7,122,568 shares of the company’s stock worth $1,632,004,000 after purchasing an additional 306,258 shares during the last quarter. Tiger Global Management LLC increased its position in Snowflake by 13.6% during the first quarter. Tiger Global Management LLC now owns 6,841,769 shares of the company’s stock worth $1,567,655,000 after purchasing an additional 821,100 shares during the last quarter. Finally, Sands Capital Management LLC increased its position in Snowflake by 6.6% during the second quarter. Sands Capital Management LLC now owns 5,721,972 shares of the company’s stock worth $795,697,000 after purchasing an additional 354,757 shares during the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNOW. Capital One Financial began coverage on shares of Snowflake in a research report on Friday, August 19th. They set an “equal weight” rating and a $182.00 price target for the company. Guggenheim started coverage on shares of Snowflake in a research report on Friday, August 12th. They set a “sell” rating and a $125.00 price target for the company. Truist Financial dropped their price objective on shares of Snowflake from $225.00 to $200.00 in a research report on Tuesday, November 8th. Raymond James dropped their price objective on shares of Snowflake from $197.00 to $180.00 in a research report on Thursday. Finally, UBS Group dropped their price objective on shares of Snowflake from $175.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $204.19.

Snowflake Stock Performance

Shares of SNOW stock traded up $5.70 during trading on Thursday, hitting $148.60. 215,028 shares of the company were exchanged, compared to its average volume of 4,997,094. The firm has a market capitalization of $47.55 billion, a price-to-earnings ratio of -68.62 and a beta of 0.86. The business’s 50-day simple moving average is $158.96 and its 200 day simple moving average is $155.00. Snowflake Inc. has a twelve month low of $110.26 and a twelve month high of $378.11.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $299,012.61. Following the completion of the sale, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $131,123.64. Following the transaction, the insider now owns 15,512 shares of the company’s stock, valued at $2,809,378.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frank Slootman sold 1,651 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $299,012.61. Following the transaction, the chief executive officer now directly owns 135,781 shares in the company, valued at approximately $24,591,296.91. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

About Snowflake

(Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

See Also

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.