Trexquant Investment LP Increases Stake in Snowflake Inc. (NYSE:SNOW)

Trexquant Investment LP increased its stake in Snowflake Inc. (NYSE:SNOW) by 27.2% in the fourth quarter, Holdings Channel reports. The firm owned 117,421 shares of the company’s stock after purchasing an additional 25,133 shares during the period. Trexquant Investment LP’s holdings in Snowflake were worth $18,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SNOW. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC increased its holdings in Snowflake by 189.5% in the 4th 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 period. Perkins Coie Trust Co raised its position in Snowflake by 136.3% during the 4th 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 last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Snowflake during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNOW. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Bank of America raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer increased their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Thursday, February 20th. Nine analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.14.

Snowflake Stock Performance

Shares of SNOW opened at $149.56 on Wednesday. The company’s 50 day simple moving average is $171.02 and its 200-day simple moving average is $152.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The firm has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 503,968 shares of company stock valued at $84,363,550. Insiders own 7.80% of the company’s stock.

About Snowflake

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.