Vinva Investment Management Ltd Has $1.07 Million Stake in Snowflake Inc. (NYSE:SNOW)

Vinva Investment Management Ltd increased its position in Snowflake Inc. (NYSE:SNOW) by 27.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,384 shares of the company’s stock after purchasing an additional 1,996 shares during the period. Vinva Investment Management Ltd’s holdings in Snowflake were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its stake in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNOW shares. Citigroup decreased their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus cut their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JMP Securities cut their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a report on Thursday, August 22nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Activity

In other news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the sale, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,661 shares of company stock worth $32,004,752. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $174.83 on Friday. The firm’s 50-day simple moving average is $126.17 and its 200-day simple moving average is $128.74. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a market cap of $58.60 billion, a P/E ratio of -51.57 and a beta of 0.83.

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.