Snowflake Inc. (NYSE:SNOW) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 41,039.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,001 shares of the company’s stock after buying an additional 64,843 shares during the period. Fred Alger Management LLC’s holdings in Snowflake were worth $7,466,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of Snowflake by 6.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 150,327 shares of the company’s stock valued at $17,267,000 after purchasing an additional 9,327 shares during the period. Spyglass Capital Management LLC lifted its stake in Snowflake by 24.2% during the third quarter. Spyglass Capital Management LLC now owns 547,848 shares of the company’s stock valued at $62,926,000 after buying an additional 106,616 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Snowflake by 27.0% in the third quarter. Vinva Investment Management Ltd now owns 9,384 shares of the company’s stock worth $1,069,000 after buying an additional 1,996 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Snowflake by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock worth $222,344,000 after acquiring an additional 51,366 shares in the last quarter. Finally, Fiduciary Trust Co raised its holdings in shares of Snowflake by 59.7% during the third quarter. Fiduciary Trust Co now owns 2,835 shares of the company’s stock valued at $326,000 after acquiring an additional 1,060 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SNOW shares. Truist Financial reiterated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. Evercore ISI lifted their price target on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price objective on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $180.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Finally, StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,582,896.10. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,661 shares of company stock worth $32,004,752 over the last three months. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $174.80 on Friday. The business has a 50 day moving average price of $126.17 and a 200 day moving average price of $128.52. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

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.