ABC Arbitrage SA Invests $1.49 Million in Snowflake Inc. (NYSE:SNOW)

ABC Arbitrage SA purchased a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,659 shares of the company’s stock, valued at approximately $1,491,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Chevy Chase Trust Holdings LLC increased its holdings in shares of Snowflake by 4.2% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 221,166 shares of the company’s stock worth $34,150,000 after buying an additional 8,878 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Snowflake by 240.2% during the 4th quarter. V Square Quantitative Management LLC now owns 888 shares of the company’s stock valued at $139,000 after purchasing an additional 627 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Snowflake by 4.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,225 shares of the company’s stock valued at $18,756,000 after purchasing an additional 4,597 shares during the last quarter. Clarity Capital Partners LLC grew its holdings in shares of Snowflake by 7.3% during the 4th quarter. Clarity Capital Partners LLC now owns 13,399 shares of the company’s stock valued at $2,069,000 after purchasing an additional 909 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Snowflake by 90.2% during the 4th quarter. Van ECK Associates Corp now owns 8,194 shares of the company’s stock valued at $1,265,000 after purchasing an additional 3,886 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 2.5 %

Shares of Snowflake stock opened at $187.86 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $62.01 billion, a PE ratio of -55.42 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $236.33. The company has a 50-day simple moving average of $171.51 and a two-hundred day simple moving average of $141.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Jefferies Financial Group increased their target price on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $187.63.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,933 shares of company stock valued at $88,283,752. 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.