Stanley Laman Group Ltd. Has $8.88 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Stanley Laman Group Ltd. lowered its position in Snowflake Inc. (NYSE:SNOW) by 7.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 57,481 shares of the company’s stock after selling 4,902 shares during the period. Snowflake makes up 1.2% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 8th largest holding. Stanley Laman Group Ltd.’s holdings in Snowflake were worth $8,876,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Groupama Asset Managment bought a new position in Snowflake in the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter worth $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the 3rd quarter worth $34,000. Finally, Perkins Coie Trust Co boosted its position in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Mizuho lifted their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Loop Capital lifted their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. 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 report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $187.63.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock valued at $88,283,752 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 2.2 %

NYSE SNOW opened at $187.56 on Thursday. The business has a 50 day simple moving average of $171.21 and a 200 day simple moving average of $140.48. Snowflake Inc. has a one year low of $107.13 and a one year high of $236.33. The stock has a market capitalization of $61.91 billion, a P/E ratio of -55.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.