BlueCrest Capital Management Ltd Makes New $1.42 Million Investment in Snowflake Inc. (NYSE:SNOW)

BlueCrest Capital Management Ltd purchased a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,200 shares of the company’s stock, valued at approximately $1,421,000.

Several other institutional investors have also modified their holdings of the business. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the last quarter. Quarry LP boosted its position in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group increased its holdings in shares of Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after acquiring an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research note on Tuesday, February 18th. Daiwa Capital Markets assumed coverage on Snowflake in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 target price on the stock. Finally, Loop Capital upped their target price on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.27.

Snowflake Stock Down 0.5 %

Shares of NYSE:SNOW opened at $159.49 on Thursday. The company has a market capitalization of $52.65 billion, a P/E ratio of -47.05 and a beta of 1.13. The stock’s fifty day simple moving average is $153.50 and its 200-day simple moving average is $156.35. Snowflake Inc. has a 52-week low of $107.13 and a 52-week 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.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 374,342 shares of company stock worth $61,578,513. Corporate insiders own 7.80% of the company’s stock.

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.