Rockefeller Capital Management L.P. Sells 24,989 Shares of Snowflake Inc. (NYSE:SNOW)

Rockefeller Capital Management L.P. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 125,338 shares of the company’s stock after selling 24,989 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Snowflake were worth $19,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC bought a new position in Snowflake during the fourth quarter valued at about $750,572,000. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. FMR LLC lifted its position in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares during the period. Finally, Groupama Asset Managment grew its holdings in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNOW has been the subject of several research reports. UBS Group raised their target price on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Stifel Nicolaus increased their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price objective on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.51.

Snowflake Trading Down 0.4 %

NYSE:SNOW opened at $144.34 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day simple moving average is $162.27 and its 200-day simple moving average is $154.03. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market capitalization of $47.65 billion, a PE ratio of -42.58 and a beta of 1.13.

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.