Glynn Capital Management LLC Decreases Stock Position in Snowflake Inc. (NYSE:SNOW)

Glynn Capital Management LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,147 shares of the company’s stock after selling 10,708 shares during the quarter. Snowflake comprises approximately 4.4% of Glynn Capital Management LLC’s holdings, making the stock its 12th largest holding. Glynn Capital Management LLC’s holdings in Snowflake were worth $18,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vinva Investment Management Ltd boosted its stake in shares of Snowflake by 59.7% during the 4th quarter. Vinva Investment Management Ltd now owns 14,989 shares of the company’s stock worth $2,323,000 after purchasing an additional 5,605 shares during the period. Andar Capital Management HK Ltd purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $2,779,000. Xponance Inc. grew its stake in shares of Snowflake by 8.6% during the fourth quarter. Xponance Inc. now owns 59,243 shares of the company’s stock valued at $9,148,000 after buying an additional 4,670 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $1,468,000. Finally, Signaturefd LLC lifted its stake in shares of Snowflake by 11.8% during the 4th quarter. Signaturefd LLC now owns 2,416 shares of the company’s stock worth $373,000 after acquiring an additional 255 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. Cantor Fitzgerald upped their price objective on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. Finally, TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Trading Down 1.3 %

NYSE SNOW opened at $154.35 on Wednesday. The stock has a market cap of $50.95 billion, a P/E ratio of -45.53 and a beta of 1.07. The company has a current ratio of 1.88, a quick 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 company has a fifty day simple moving average of $173.01 and a two-hundred day simple moving average of $148.93.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,648 shares of company stock worth $48,387,318 in the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake Company 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.