ExodusPoint Capital Management LP Sells 217,038 Shares of Snowflake Inc. (NYSE:SNOW)

ExodusPoint Capital Management LP lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 80.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,354 shares of the company’s stock after selling 217,038 shares during the period. ExodusPoint Capital Management LP’s holdings in Snowflake were worth $8,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Groupama Asset Managment bought a new position in shares of Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new position in Snowflake during the 4th quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the fourth quarter worth $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 6.8 %

SNOW opened at $130.41 on Friday. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a 50-day simple moving average of $168.97 and a 200 day simple moving average of $152.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Needham & Company LLC raised their price target on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $203.05.

Insider Activity

In other news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,186 shares of company stock worth $82,353,709. 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.