Occudo Quantitative Strategies LP Buys 7,187 Shares of Snowflake Inc. (NYSE:SNOW)

Occudo Quantitative Strategies LP grew its stake in Snowflake Inc. (NYSE:SNOW) by 127.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,810 shares of the company’s stock after acquiring an additional 7,187 shares during the period. Occudo Quantitative Strategies LP’s holdings in Snowflake were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SNOW. Norges Bank bought a new position in shares of Snowflake in the fourth quarter worth about $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC raised its stake in shares of Snowflake by 92.2% in 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 last quarter. FMR LLC raised its stake in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after buying an additional 2,200,406 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNOW has been the subject of a number of recent research reports. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research note on Tuesday, February 18th. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Loop Capital boosted their price target on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Piper Sandler dropped their price target on shares of Snowflake from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup boosted their price target 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. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Stock Up 3.7%

Snowflake stock opened at $180.57 on Tuesday. The stock has a market capitalization of $59.61 billion, a PE ratio of -53.27 and a beta of 1.11. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $153.34 and a 200-day moving average of $159.84.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the transaction, the director now owns 25,972 shares in the company, valued at $4,363,555.72. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 over the last quarter. 7.80% of the stock is currently owned by company insiders.

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.