Two Sigma Investments LP Sells 809,286 Shares of Snowflake Inc. (NYSE:SNOW)

Two Sigma Investments LP lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,417,698 shares of the company’s stock after selling 809,286 shares during the quarter. Two Sigma Investments LP’s holdings in Snowflake were worth $218,907,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Asset Dedication LLC boosted its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the last quarter. Quarry LP boosted its stake in shares of Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after purchasing an additional 59 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock worth $58,204,058 over the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

NYSE SNOW opened at $183.01 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a market capitalization of $60.41 billion, a PE ratio of -53.98 and a beta of 1.11. The firm’s 50 day moving average is $155.65 and its 200-day moving average is $161.65.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt raised their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Macquarie started coverage on shares of Snowflake in a research note on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price objective on the stock. Citigroup lifted their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Jefferies Financial Group reduced their price objective on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Mizuho lifted their price objective on shares of Snowflake from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.28.

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.