Qsemble Capital Management LP Lowers Position in Snowflake Inc. (NYSE:SNOW)

Qsemble Capital Management LP trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 64.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,427 shares of the company’s stock after selling 19,049 shares during the quarter. Qsemble Capital Management LP’s holdings in Snowflake were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC boosted its holdings in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the 3rd quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the second quarter valued at approximately $39,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 0.1 %

Shares of Snowflake stock opened at $171.19 on Wednesday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a 50 day simple moving average of $122.43 and a two-hundred day simple moving average of $128.01.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America boosted their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Canaccord Genuity Group reduced their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Barclays boosted their target price on shares of Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird lowered their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Activity

In other Snowflake news, insider Benoit Dageville sold 287 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,126 shares of company stock worth $28,058,461. 7.80% of the stock is currently owned by corporate insiders.

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.