Dynamic Technology Lab Private Ltd Sells 2,852 Shares of Snowflake Inc. (NYSE:SNOW)

Dynamic Technology Lab Private Ltd lowered its position in Snowflake Inc. (NYSE:SNOW) by 24.6% in the third quarter, Holdings Channel.com reports. The fund owned 8,753 shares of the company’s stock after selling 2,852 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Snowflake were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC lifted its stake 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 period. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter worth approximately $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 acquired a new stake in Snowflake in the 3rd quarter valued at $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in Snowflake in the second quarter valued at $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $185.00 target price (up previously from $165.00) on shares of Snowflake in a research note on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays boosted their target price on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group raised their price target on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Stock Up 1.4 %

Shares of SNOW stock opened at $173.62 on Thursday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The firm has a fifty day moving average of $123.68 and a 200-day moving average of $128.32. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of -51.22 and a beta of 0.83.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at $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. In the last ninety days, insiders sold 204,661 shares of company stock valued at $32,004,752. Company insiders own 7.80% of the company’s stock.

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.