93,000 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,000 shares of the company’s stock, valued at approximately $10,682,000.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Snowflake in the second quarter valued at about $41,000. Mather Group LLC. grew its stake in shares of Snowflake by 223.6% in the second quarter. Mather Group LLC. now owns 906 shares of the company’s stock valued at $122,000 after buying an additional 626 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Snowflake by 17.4% in the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after buying an additional 228 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Snowflake by 10.7% in the second quarter. Harbor Capital Advisors Inc. now owns 7,531 shares of the company’s stock valued at $1,017,000 after buying an additional 727 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,278 shares of company stock valued at $42,512,248 over the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $176.02 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The business has a 50-day moving average of $128.62 and a two-hundred day moving average of $128.42. The stock has a market capitalization of $59.00 billion, a P/E ratio of -51.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.58.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNOW. Loop Capital lowered their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Argus began coverage on Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating for the company. Bank of America raised their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Robert W. Baird lowered their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Mizuho lifted their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $181.09.

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.