Snowflake Inc. (NYSE:SNOW) Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP raised its stake in Snowflake Inc. (NYSE:SNOW) by 21.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,405 shares of the company’s stock after acquiring an additional 4,762 shares during the period. Concentric Capital Strategies LP’s holdings in Snowflake were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the third quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research reports. Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. KeyCorp boosted their price target on Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus decreased their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake 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 $61,357.68. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 264,278 shares of company stock worth $42,512,248 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Down 1.4 %

SNOW stock opened at $172.33 on Tuesday. The stock’s 50 day moving average price is $126.17 and its 200 day moving average price is $128.27. Snowflake Inc. has a 1 year low of $107.13 and a 1 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.