Renaissance Technologies LLC Decreases Stake in Snowflake Inc. (NYSE:SNOW)

Renaissance Technologies LLC lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 62.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,000 shares of the company’s stock after selling 276,202 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Snowflake worth $25,941,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter worth approximately $29,000. Quadrant Capital Group LLC boosted its holdings in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake during the fourth quarter valued at $38,000. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock valued at $82,405,796 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.3 %

NYSE SNOW opened at $144.84 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a fifty day simple moving average of $163.16 and a two-hundred day simple moving average of $153.53. 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 cap of $47.81 billion, a P/E ratio of -42.72 and a beta of 1.13.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research report on Tuesday, February 18th. Barclays increased their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.84.

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.