Snowflake Inc. (NYSE:SNOW) Position Increased by Soros Fund Management LLC

Soros Fund Management LLC raised its stake in Snowflake Inc. (NYSE:SNOW) by 2,228.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,700 shares of the company’s stock after buying an additional 80,106 shares during the period. Soros Fund Management LLC’s holdings in Snowflake were worth $12,924,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC increased its position in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. FMR LLC raised its holdings in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 0.4 %

SNOW stock opened at $158.96 on Tuesday. The business has a fifty day moving average price of $154.37 and a 200 day moving average price of $156.30. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market capitalization of $52.47 billion, a price-to-earnings ratio of -46.89 and a beta of 1.13.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,342 shares of company stock worth $61,578,513. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC raised their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a report on Tuesday, February 18th. Finally, Daiwa Capital Markets assumed coverage on Snowflake in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective for the company. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $200.27.

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.