Twenty Acre Capital LP Has $8.14 Million Position in Snowflake Inc. (NYSE:SNOW)

Twenty Acre Capital LP boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,700 shares of the company’s stock after purchasing an additional 5,300 shares during the quarter. Snowflake comprises 6.6% of Twenty Acre Capital LP’s holdings, making the stock its 7th largest position. Twenty Acre Capital LP’s holdings in Snowflake were worth $8,137,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake during the fourth quarter worth $750,572,000. Jennison Associates LLC boosted its position in Snowflake by 92.2% during the 4th 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 during the last quarter. FMR LLC raised its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment grew its stake in shares of Snowflake by 930,132.6% in the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock valued at $308,820,000 after buying an additional 1,999,785 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research reports. Jefferies Financial Group cut their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a report on Tuesday, February 18th. Oppenheimer lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. UBS Group increased their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.51.

Snowflake Stock Performance

Shares of SNOW stock opened at $146.05 on Thursday. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a market cap of $48.21 billion, a P/E ratio of -43.08 and a beta of 1.13. The firm has a 50-day moving average of $160.73 and a 200-day moving average of $153.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,589 shares of company stock worth $82,405,796. 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.