Worldquant Millennium Advisors LLC Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Worldquant Millennium Advisors LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 13.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 623,235 shares of the company’s stock after purchasing an additional 73,065 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.19% of Snowflake worth $71,585,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNOW. LRI Investments LLC grew its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake during the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the 3rd quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Snowflake during the second quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth about $34,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. This represents a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 294,278 shares of company stock worth $47,825,233 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Down 1.9 %

Snowflake stock opened at $183.02 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.88. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of -53.99 and a beta of 1.03. The company has a 50 day moving average price of $131.51 and a 200 day moving average price of $129.20.

Analysts Set New Price Targets

Several research analysts have commented on SNOW shares. Stifel Nicolaus decreased their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and issued a $185.00 price objective (up from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Evercore ISI increased their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC lifted their price objective on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued 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 target price of $181.80.

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.