Holocene Advisors LP Sells 120,363 Shares of Snowflake Inc. (NYSE:SNOW)

Holocene Advisors LP decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 501,758 shares of the company’s stock after selling 120,363 shares during the quarter. Holocene Advisors LP owned approximately 0.15% of Snowflake worth $57,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNOW. LRI Investments LLC boosted its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the second quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in Snowflake during the third quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in Snowflake during the second quarter valued at about $39,000. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNOW. Royal Bank of Canada raised their price objective on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. DA Davidson reissued a “buy” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Argus assumed coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Stock Performance

Snowflake stock opened at $172.33 on Tuesday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The business has a 50 day simple moving average of $126.17 and a 200-day simple moving average of $128.27.

Insider Activity

In other news, CRO Christopher William Degnan sold 76,692 shares of Snowflake 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 of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 59,617 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,278 shares of company stock worth $42,512,248 over the last three months. 7.80% of the stock is currently owned by corporate 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.