Snowflake Inc. (NYSE:SNOW) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 33.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 414,702 shares of the company’s stock after selling 208,533 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.13% of Snowflake worth $64,034,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Woodline Partners LP raised its stake in shares of Snowflake by 0.5% in the 4th quarter. Woodline Partners LP now owns 504,307 shares of the company’s stock worth $77,870,000 after buying an additional 2,677 shares in the last quarter. Victrix Investment Advisors purchased a new position in Snowflake in the fourth quarter valued at about $580,000. Vident Advisory LLC grew its stake in Snowflake by 56.7% in the fourth quarter. Vident Advisory LLC now owns 7,130 shares of the company’s stock valued at $1,101,000 after purchasing an additional 2,580 shares in the last quarter. Spurstone Advisory Services LLC purchased a new position in Snowflake in the fourth quarter valued at about $31,000. Finally, Spyglass Capital Management LLC lifted its position in shares of Snowflake by 5.3% in the fourth quarter. Spyglass Capital Management LLC now owns 577,034 shares of the company’s stock worth $89,100,000 after buying an additional 29,186 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.7%

NYSE:SNOW opened at $181.81 on Tuesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-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 firm has a market capitalization of $60.02 billion, a P/E ratio of -53.63 and a beta of 1.11. The stock’s fifty day simple moving average is $156.24 and its 200-day simple moving average is $162.11.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $183.00 price target on shares of Snowflake in a research report on Wednesday, April 2nd. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a report on Tuesday, February 18th. The Goldman Sachs Group set a $205.00 price target on Snowflake and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada increased their target price on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Ten equities research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.86.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake 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 transaction, the director now owns 25,972 shares in the company, valued at approximately $4,363,555.72. This represents a 1.53% 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 in the last three months. 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.