Snowflake Inc. (NYSE:SNOW) Holdings Decreased by Bridgewater Associates LP

Bridgewater Associates LP decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 89.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,210 shares of the company’s stock after selling 76,505 shares during the quarter. Bridgewater Associates LP’s holdings in Snowflake were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SNOW. Ontario Teachers Pension Plan Board grew its holdings in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after buying an additional 628,511 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Snowflake by 90.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after buying an additional 600,469 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Snowflake by 12,318.3% during the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. 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. Citigroup lowered their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. JMP Securities lowered their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Argus began coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have issued 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 price target of $181.09.

Insider Activity

In other news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,661 shares of company stock worth $32,004,752. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.6 %

SNOW stock opened at $174.80 on Monday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a market cap of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. The business’s 50 day moving average is $126.17 and its 200-day moving average is $128.27.

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.