Shaolin Capital Management LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Shaolin Capital Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds have also bought and sold shares of the company. LRI Investments LLC boosted its stake in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake in the second quarter worth approximately $27,000. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC bought a new position in Snowflake in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,251 shares of Snowflake stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,114 shares of company stock valued at $47,587,279. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. KeyCorp upped their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wedbush raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Monday, November 25th. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Finally, Needham & Company LLC lifted their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.89.

Snowflake Price Performance

NYSE SNOW opened at $171.53 on Wednesday. The company has a market cap of $56.62 billion, a PE ratio of -50.60 and a beta of 1.03. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm’s 50 day moving average price is $134.22 and its 200-day moving average price is $129.04.

About Snowflake

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.