Arrowstreet Capital Limited Partnership Purchases 680,017 Shares of Snowflake Inc. (NYSE:SNOW)

Arrowstreet Capital Limited Partnership increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 1,389.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 728,967 shares of the company’s stock after acquiring an additional 680,017 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Snowflake were worth $112,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. L & S Advisors Inc purchased a new stake in shares of Snowflake during the 4th quarter valued at $1,314,000. Allianz SE acquired a new position in Snowflake during the 4th quarter valued at about $279,000. Accent Capital Management LLC raised its stake in Snowflake by 9,126.7% in the fourth quarter. Accent Capital Management LLC now owns 6,920 shares of the company’s stock valued at $1,069,000 after buying an additional 6,845 shares during the last quarter. Allstate Corp acquired a new stake in Snowflake in the fourth quarter worth about $1,375,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Snowflake by 500.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 300 shares of the company’s stock worth $46,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 503,968 shares of company stock worth $84,363,550 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Down 4.1 %

Shares of Snowflake stock opened at $150.60 on Monday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm’s 50-day moving average price is $171.99 and its 200 day moving average price is $151.58. 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 firm has a market capitalization of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07.

Analyst Ratings Changes

Several brokerages recently commented on SNOW. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald upped their target price on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, KeyCorp increased their price objective on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.08.

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.