Luxor Capital Group LP Purchases Shares of 2,300 Snowflake Inc. (NYSE:SNOW)

Luxor Capital Group LP acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the third quarter, Holdings Channel reports. The institutional investor acquired 2,300 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. State Street Corp raised its holdings in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board raised its stake in 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 during the last quarter. Legal & General Group Plc raised its stake in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Snowflake by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after buying an additional 51,366 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake 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 sale, the executive vice president now owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,278 shares of company stock valued at $47,825,233. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

Snowflake stock opened at $183.64 on Monday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company’s 50 day moving average price is $132.90 and its two-hundred day moving average price is $128.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SNOW shares. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Robert W. Baird cut their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $182.31.

About Snowflake

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.