Quantbot Technologies LP Buys 32,712 Shares of Snowflake Inc. (NYSE:SNOW)

Quantbot Technologies LP raised its position in Snowflake Inc. (NYSE:SNOW) by 41.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,430 shares of the company’s stock after acquiring an additional 32,712 shares during the period. Snowflake comprises approximately 0.5% of Quantbot Technologies LP’s holdings, making the stock its 14th largest holding. Quantbot Technologies LP’s holdings in Snowflake were worth $12,799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Ontario Teachers Pension Plan Board increased its holdings in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Legal & General Group Plc grew its holdings in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. Swedbank AB bought a new position in shares of Snowflake in the first quarter worth about $258,957,000. Bank of New York Mellon Corp lifted its position in shares of Snowflake by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after purchasing an additional 8,743 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $171.60 on Tuesday. The stock has a 50-day simple moving average of $121.23 and a 200 day simple moving average of $127.91. The stock has a market capitalization of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 182,126 shares of company stock worth $28,058,461. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SNOW shares. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. JMP Securities cut their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $185.00 target price (up previously from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $181.09.

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.