Ieq Capital LLC Has $193.60 Million Position in Snowflake Inc. (NYSE:SNOW)

Ieq Capital LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 25.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,253,782 shares of the company’s stock after purchasing an additional 254,200 shares during the period. Snowflake makes up about 1.9% of Ieq Capital LLC’s portfolio, making the stock its 12th biggest holding. Ieq Capital LLC’s holdings in Snowflake were worth $193,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. State Street Corp boosted its stake in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC grew its position in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP raised its stake in 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 acquiring an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,241 shares of company stock valued at $75,367,285 over the last ninety days. 7.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. Wedbush raised shares of Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada upped their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial reissued a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Bank of America upped their target price on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.75.

Snowflake Trading Down 3.3 %

Shares of NYSE:SNOW opened at $186.44 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $235.66. The business’s 50 day simple moving average is $172.37 and its two-hundred day simple moving average is $143.01.

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.