Sandy Spring Bank Sells 1,326 Shares of Snowflake Inc. (NYSE:SNOW)

Sandy Spring Bank reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,521 shares of the company’s stock after selling 1,326 shares during the quarter. Sandy Spring Bank’s holdings in Snowflake were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal London Asset Management Ltd. raised its position in Snowflake by 2.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 148,192 shares of the company’s stock valued at $22,882,000 after purchasing an additional 4,080 shares during the last quarter. Trivest Advisors Ltd bought a new position in Snowflake in the fourth quarter valued at about $41,073,000. Kazazian Asset Management LLC bought a new position in Snowflake in the fourth quarter valued at about $1,266,000. Generali Investments Management Co LLC bought a new position in Snowflake in the fourth quarter valued at about $1,624,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Snowflake in the fourth quarter valued at about $875,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Up 0.5 %

Shares of NYSE:SNOW opened at $157.94 on Friday. The stock has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The business’s 50 day moving average is $172.74 and its 200 day moving average is $149.34.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the transaction, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 298,429 shares of company stock valued at $50,065,812 over the last 90 days. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SNOW. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. KeyCorp increased their target price on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. UBS Group increased their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $205.08.

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.