Snowflake Inc. (NYSE:SNOW) Stake Lowered by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 4.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,608 shares of the company’s stock after selling 234 shares during the period. New York Life Investment Management LLC’s holdings in Snowflake were worth $866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $29,000. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake during the 4th quarter valued at $38,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE SNOW opened at $173.81 on Tuesday. The stock has a market cap of $57.37 billion, a P/E ratio of -51.27 and a beta of 1.07. The company’s 50-day simple moving average is $173.43 and its 200 day simple moving average is $146.10. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus lifted their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Bank of America lifted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Citigroup lifted their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 6,714 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now directly owns 196,454 shares in the company, valued at $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 297,193 shares of company stock valued at $50,220,063 over the last quarter. 7.80% of the stock is owned by company insiders.

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.