Amalgamated Bank Purchases 504 Shares of Snowflake Inc. (NYSE:SNOW)

Amalgamated Bank lifted its position in Snowflake Inc. (NYSE:SNOW) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,343 shares of the company’s stock after acquiring an additional 504 shares during the period. Amalgamated Bank’s holdings in Snowflake were worth $3,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Snowflake by 165.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after purchasing an additional 333,500 shares in the last quarter. Finally, General Catalyst Group Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth $40,931,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $176.76 on Friday. The stock has a market capitalization of $58.35 billion, a PE ratio of -52.14 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 business has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $145.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Analysts Set New Price Targets

Several research firms recently commented on SNOW. Needham & Company LLC increased their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday. Truist Financial reissued a “buy” rating and set a $225.00 price objective (up from $210.00) on shares of Snowflake in a report on Thursday. Monness Crespi & Hardt raised their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Oppenheimer boosted their target price on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction that occurred on 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 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 ninety days, insiders sold 312,193 shares of company stock valued at $52,833,048. 7.80% of the stock is owned by corporate insiders.

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.