Snowflake Inc. (NYSE:SNOW) Stake Boosted by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its holdings in Snowflake Inc. (NYSE:SNOW) by 74.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213 shares of the company’s stock after purchasing an additional 91 shares during the period. Quadrant Capital Group LLC’s holdings in Snowflake were worth $33,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. Norges Bank bought a new stake in Snowflake during the 4th quarter valued at approximately $988,950,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the fourth quarter worth $750,572,000. Geode Capital Management LLC grew its position in Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after purchasing an additional 15,314 shares during the last quarter. Finally, Groupama Asset Managment grew its position in Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $183.00 price target on shares of Snowflake in a report on Wednesday, April 2nd. Rosenblatt Securities lifted their price objective on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group upped their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Daiwa Capital Markets began coverage on Snowflake in a report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price target on the stock. Finally, Piper Sandler lifted their target price on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.84.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The stock was 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 of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock worth $82,405,796 in the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $144.84 on Friday. The company has a market cap of $47.81 billion, a price-to-earnings ratio of -42.72 and a beta of 1.13. 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 company’s fifty day simple moving average is $163.16 and its 200 day simple moving average is $153.53. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

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.