Qsemble Capital Management LP Sells 19,049 Shares of Snowflake Inc. (NYSE:SNOW)

Qsemble Capital Management LP lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 64.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,427 shares of the company’s stock after selling 19,049 shares during the period. Qsemble Capital Management LP’s holdings in Snowflake were worth $1,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LRI Investments LLC lifted its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC bought a new position in Snowflake in the third quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. Stifel Nicolaus decreased their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities lowered their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Stock Performance

NYSE:SNOW opened at $171.19 on Wednesday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a fifty day simple moving average of $122.43 and a two-hundred day simple moving average of $128.01.

Insider Activity

In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,126 shares of company stock worth $28,058,461 in the last three months. Company 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.