Snowflake Inc. (NYSE:SNOW) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 63.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,629 shares of the company’s stock after selling 2,789 shares during the quarter. GM Advisory Group LLC’s holdings in Snowflake were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jennison Associates LLC grew its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 298,429 shares of company stock worth $50,065,812 in the last 90 days. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SNOW shares. Citigroup lifted their price target on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Barclays boosted their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research note on Tuesday, February 18th. Cantor Fitzgerald boosted their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, TD Cowen raised their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

Snowflake Trading Up 1.0 %

Shares of NYSE:SNOW opened at $155.89 on Thursday. 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 stock’s 50-day moving average is $172.91 and its 200-day moving average is $148.98. The company has a market cap of $51.46 billion, a P/E ratio of -45.98 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

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.