Snowflake Inc. (NYSE:SNOW) Shares Bought by Thematics Asset Management

Thematics Asset Management lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 16.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,856 shares of the company’s stock after acquiring an additional 48,804 shares during the quarter. Snowflake accounts for about 1.6% of Thematics Asset Management’s portfolio, making the stock its 14th largest position. Thematics Asset Management’s holdings in Snowflake were worth $40,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SNOW. LRI Investments LLC acquired a new stake in Snowflake in the first quarter valued at approximately $29,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the third quarter valued at $30,000. Global Financial Private Client LLC acquired a new position in Snowflake in the 1st quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the second quarter worth approximately $39,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNOW. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. KeyCorp boosted their target price on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and issued a $185.00 price objective (up previously from $165.00) on shares of Snowflake in a research report on Thursday, November 21st. Wedbush upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Transactions at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction 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 sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,126 shares of company stock valued at $28,058,461. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW traded up $2.37 during midday trading on Tuesday, reaching $173.79. The company had a trading volume of 2,502,633 shares, compared to its average volume of 6,791,069. The stock has a market capitalization of $58.25 billion, a P/E ratio of -50.62 and a beta of 0.83. The stock’s fifty day moving average price is $121.23 and its 200-day moving average price is $127.91. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

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.