Trexquant Investment LP Boosts Stock Position in Snowflake Inc. (NYSE:SNOW)

Trexquant Investment LP lifted its position in shares of Snowflake Inc. (NYSE:SNOW) by 266.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,499 shares of the company’s stock after purchasing an additional 7,633 shares during the period. Trexquant Investment LP’s holdings in Snowflake were worth $2,089,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Snowflake during the fourth quarter worth about $790,000. Sequoia Financial Advisors LLC lifted its holdings in Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Snowflake in the third quarter worth about $458,000. Meridian Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth about $288,000. Finally, Glynn Capital Management LLC lifted its holdings in Snowflake by 3.1% in the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark D. Mclaughlin acquired 3,030 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $165.45 per share, with a total value of $501,313.50. Following the transaction, the director now owns 11,687 shares in the company, valued at $1,933,614.15. The disclosure for this purchase can be found here. In the last quarter, insiders sold 62,380 shares of company stock valued at $9,803,625. Company insiders own 8.30% of the company’s stock.

Snowflake Trading Up 1.0 %

NYSE:SNOW opened at $156.16 on Friday. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The company has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. The company has a 50 day simple moving average of $157.03 and a two-hundred day simple moving average of $180.31.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.54%. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Research analysts forecast that Snowflake Inc. will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Rosenblatt Securities raised their price objective on shares of Snowflake from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. HSBC restated a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Thursday, May 2nd. Mizuho restated a “buy” rating and issued a $205.00 price objective (down from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Raymond James raised their price objective on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.64.

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.