Numerai GP LLC Has $2.67 Million Position in Snowflake Inc. (NYSE:SNOW)

Numerai GP LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 54.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,286 shares of the company’s stock after selling 20,650 shares during the period. Snowflake makes up about 0.7% of Numerai GP LLC’s portfolio, making the stock its 19th largest holding. Numerai GP LLC’s holdings in Snowflake were worth $2,669,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research reports. Loop Capital increased their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a 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 target on the stock in a research note on Tuesday, February 18th. Piper Sandler cut their price target on shares of Snowflake from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Truist Financial decreased their price objective on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Macquarie began coverage on Snowflake in a report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 target price on the stock. Ten 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.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Trading Up 0.3%

Shares of Snowflake stock opened at $181.09 on Wednesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market capitalization of $59.78 billion, a PE ratio of -53.42 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company’s fifty day moving average price is $153.84 and its two-hundred day moving average price is $159.99.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 594,975 shares in the company, valued at $102,186,956.25. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,963 shares of company stock worth $58,204,058. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.