PDT Partners LLC Grows Holdings in Snowflake Inc. (NYSE:SNOW)

PDT Partners LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 160.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,715 shares of the company’s stock after acquiring an additional 16,465 shares during the quarter. PDT Partners LLC’s holdings in Snowflake were worth $3,068,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SNOW. Comerica Bank increased its stake in Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after buying an additional 4,296 shares during the period. Cetera Investment Advisers increased its stake in Snowflake by 201.5% in the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after buying an additional 42,563 shares during the period. Cetera Advisors LLC increased its stake in Snowflake by 76.5% in the 1st quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock valued at $4,659,000 after buying an additional 12,497 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 20,514 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,582,896.10. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,661 shares of company stock worth $32,004,752. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. 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 research note on Monday, November 25th. Monness Crespi & Hardt upped their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Citigroup lowered their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Stock Performance

NYSE SNOW opened at $174.83 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company’s 50 day moving average price is $126.17 and its 200 day moving average price is $128.74. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of -51.57 and a beta of 0.83.

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.