New York Life Investment Management LLC Cuts Stake in Snowflake Inc. (NYSE:SNOW)

New York Life Investment Management LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,608 shares of the company’s stock after selling 234 shares during the quarter. New York Life Investment Management LLC’s holdings in Snowflake were worth $866,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SNOW. Allspring Global Investments Holdings LLC grew its stake in shares of Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after acquiring an additional 335 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Snowflake by 6.7% in the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in Snowflake in the third quarter worth about $376,000. Janney Montgomery Scott LLC grew its stake in Snowflake by 13.9% in the third quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company’s stock worth $3,916,000 after purchasing an additional 4,168 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Snowflake by 33.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company’s stock worth $4,474,000 after purchasing an additional 9,743 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $306,448.00. Following the transaction, the director now directly owns 205,965 shares in the company, valued at approximately $36,867,735. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 297,193 shares of company stock worth $50,220,063. 7.80% of the stock is owned by insiders.

Snowflake Trading Down 1.9 %

Snowflake stock opened at $173.81 on Tuesday. 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 firm has a market cap of $57.37 billion, a price-to-earnings ratio of -51.27 and a beta of 1.07. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm’s 50 day moving average price is $173.43 and its two-hundred day moving average price is $146.10.

Analysts Set New Price Targets

A number of research firms recently commented on SNOW. Barclays lifted their price target on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Needham & Company LLC raised their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, TD Cowen raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

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.