Virtu Financial LLC Invests $5.76 Million in Snowflake Inc. (NYSE:SNOW)

Virtu Financial LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,271 shares of the company’s stock, valued at approximately $5,755,000.

Other hedge funds also recently made changes to their positions in the company. ZEGA Investments LLC bought a new position in shares of Snowflake in the 4th quarter worth about $531,000. TD Private Client Wealth LLC boosted its holdings in shares of Snowflake by 32.6% during the 4th quarter. TD Private Client Wealth LLC now owns 764 shares of the company’s stock valued at $118,000 after acquiring an additional 188 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Snowflake in the fourth quarter worth approximately $6,975,000. Teacher Retirement System of Texas boosted its holdings in shares of Snowflake by 782.2% in the fourth quarter. Teacher Retirement System of Texas now owns 17,793 shares of the company’s stock worth $2,747,000 after buying an additional 15,776 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Snowflake by 2.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 148,192 shares of the company’s stock worth $22,882,000 after acquiring an additional 4,080 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.5 %

NYSE:SNOW opened at $157.94 on Friday. The stock’s fifty day moving average price is $172.74 and its two-hundred day moving average price is $149.34. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Truist Financial reissued a “buy” rating and set a $225.00 target price (up from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Finally, Royal Bank of Canada boosted their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 7,016 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the completion of the sale, the director now owns 182,999 shares of the company’s stock, valued at $28,491,114.31. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 298,429 shares of company stock valued at $50,065,812 in the last 90 days. 7.80% of the stock is owned by company insiders.

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.