Snowflake Inc. (NYSE:SNOW) Shares Sold by Glynn Capital Management LLC

Glynn Capital Management LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,147 shares of the company’s stock after selling 10,708 shares during the period. Snowflake comprises about 4.4% of Glynn Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Glynn Capital Management LLC’s holdings in Snowflake were worth $18,552,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its holdings in Snowflake by 59.7% in the fourth quarter. Vinva Investment Management Ltd now owns 14,989 shares of the company’s stock valued at $2,323,000 after buying an additional 5,605 shares in the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Snowflake in the 4th quarter valued at about $2,779,000. Xponance Inc. raised its holdings in Snowflake by 8.6% in the 4th quarter. Xponance Inc. now owns 59,243 shares of the company’s stock worth $9,148,000 after purchasing an additional 4,670 shares during the period. Generali Asset Management SPA SGR purchased a new position in Snowflake during the fourth quarter worth approximately $1,468,000. Finally, Signaturefd LLC grew its holdings in Snowflake by 11.8% in the fourth quarter. Signaturefd LLC now owns 2,416 shares of the company’s stock valued at $373,000 after purchasing an additional 255 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $154.35 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. 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 company has a 50 day moving average price of $173.01 and a 200 day moving average price of $148.93. The stock has a market capitalization of $50.95 billion, a P/E ratio of -45.53 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction dated 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 transaction, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at approximately $96,364,158.30. This represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 287,648 shares of company stock worth $48,387,318 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNOW. Mizuho upped their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Piper Sandler boosted their target price on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Rosenblatt Securities raised their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Bank of America lifted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.92.

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.