Townsquare Capital LLC Grows Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Townsquare Capital LLC grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,170 shares of the company’s stock after buying an additional 23,832 shares during the quarter. Townsquare Capital LLC’s holdings in Snowflake were worth $31,606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ontario Teachers Pension Plan Board lifted its stake in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Swedbank AB purchased a new position in shares of Snowflake during the 1st quarter worth $258,957,000. AQR Capital Management LLC grew its position in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC increased its stake in Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,126 shares of company stock valued at $28,058,461 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. TD Cowen upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC lifted their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Scotiabank dropped their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Finally, Jefferies Financial Group upped their price target on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Stock Performance

NYSE SNOW opened at $171.19 on Wednesday. The company has a 50-day moving average price of $122.43 and a two-hundred day moving average price of $128.01. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

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.