Twenty Acre Capital LP Acquires 5,300 Shares of Snowflake Inc. (NYSE:SNOW)

Twenty Acre Capital LP increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,700 shares of the company’s stock after buying an additional 5,300 shares during the period. Snowflake accounts for 6.6% of Twenty Acre Capital LP’s holdings, making the stock its 7th biggest position. Twenty Acre Capital LP’s holdings in Snowflake were worth $8,137,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth approximately $988,950,000. GQG Partners LLC purchased a new stake in Snowflake in the 4th quarter worth $750,572,000. Jennison Associates LLC raised its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. FMR LLC lifted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment raised its position in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake 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 of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Needham & Company LLC boosted their price objective on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. UBS Group upped their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Wells Fargo & Company boosted their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 price target on Snowflake in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.51.

Snowflake Stock Performance

Shares of SNOW stock opened at $146.05 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $48.21 billion, a P/E ratio of -43.08 and a beta of 1.13. The company’s fifty day moving average price is $160.73 and its two-hundred day moving average price is $153.93.

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.