Mount Lucas Management LP Trims Stock Position in Snowflake Inc. (NYSE:SNOW)

Mount Lucas Management LP lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 932 shares of the company’s stock after selling 196 shares during the quarter. Mount Lucas Management LP’s holdings in Snowflake were worth $144,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC raised its position in 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 during the period. Perkins Coie Trust Co raised its position in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Snowflake in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the sale, the director now directly owns 196,454 shares of the company’s stock, valued at $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,923 shares of company stock valued at $49,689,983. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $147.38 on Tuesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The stock has a market cap of $48.65 billion, a PE ratio of -43.47 and a beta of 1.07. 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 firm has a fifty day moving average price of $173.64 and a 200 day moving average price of $147.31.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. Barclays boosted their target price on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. TD Cowen boosted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their target price on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

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.