Quantbot Technologies LP Sells 19,899 Shares of Snowflake Inc. $SNOW

Quantbot Technologies LP trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 35.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,235 shares of the company’s stock after selling 19,899 shares during the period. Quantbot Technologies LP’s holdings in Snowflake were worth $8,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Trust Co. of Toledo NA OH bought a new position in Snowflake in the 2nd quarter valued at $25,000. Avion Wealth grew its holdings in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Rossby Financial LCC grew its holdings in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. increased its stake in Snowflake by 149.1% in the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after buying an additional 82 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in Snowflake by 417.2% during the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after buying an additional 121 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president directly owned 522,450 shares in the company, valued at $145,100,038.50. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president directly owned 241,854 shares in the company, valued at approximately $53,986,649.88. This represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 211,305 shares of company stock worth $50,590,799. 6.80% of the stock is owned by insiders.

Snowflake Price Performance

NYSE SNOW opened at $259.87 on Wednesday. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The firm’s fifty day simple moving average is $250.14 and its two-hundred day simple moving average is $225.58. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $88.05 billion, a P/E ratio of -62.62 and a beta of 1.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNOW shares. Cowen restated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. The Goldman Sachs Group increased their price objective on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. BTIG Research raised their price objective on Snowflake from $276.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. JMP Securities upped their target price on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Finally, Truist Financial increased their price target on Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $270.31.

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.