Motley Fool Asset Management LLC Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Motley Fool Asset Management LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,261 shares of the company’s stock after selling 218 shares during the period. Motley Fool Asset Management LLC’s holdings in Snowflake were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Snowflake by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 33,815 shares of the company’s stock worth $3,884,000 after purchasing an additional 633 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Snowflake in the 3rd quarter valued at approximately $216,000. Hilltop Holdings Inc. acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $207,000. Janus Henderson Group PLC increased its holdings in shares of Snowflake by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 25,231 shares of the company’s stock worth $2,898,000 after buying an additional 1,027 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in shares of Snowflake by 48.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 10,051 shares of the company’s stock valued at $1,154,000 after buying an additional 3,300 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock valued at $82,353,709 in the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Stock Down 9.3 %

SNOW stock opened at $139.63 on Friday. The stock has a market cap of $46.09 billion, a P/E ratio of -41.19 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company’s 50 day moving average is $169.85 and its two-hundred day moving average is $152.00.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNOW shares. Oppenheimer raised their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. KeyCorp boosted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus upped their target price on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.05.

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.