SevenBridge Financial Group LLC Has $338,000 Position in Snowflake Inc. (NYSE:SNOW)

SevenBridge Financial Group LLC lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,190 shares of the company’s stock after selling 125 shares during the period. SevenBridge Financial Group LLC’s holdings in Snowflake were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Groupama Asset Managment bought a new stake in Snowflake during the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC increased its holdings in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its position in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Snowflake during the 4th quarter worth $38,000. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Evercore ISI boosted their price objective on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Needham & Company LLC raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group dropped their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. Finally, Oppenheimer raised their price target on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $203.05.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake 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 completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % 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 worth $82,353,709 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $154.23 on Thursday. The stock has a 50 day simple moving average of $170.55 and a 200 day simple moving average of $152.08. The stock has a market cap of $50.91 billion, a P/E ratio of -45.50 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 company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.