Paloma Partners Management Co Cuts Position in Snowflake Inc. (NYSE:SNOW)

Paloma Partners Management Co lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 43.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 221,176 shares of the company’s stock after selling 172,852 shares during the quarter. Snowflake comprises about 1.5% of Paloma Partners Management Co’s portfolio, making the stock its 16th largest holding. Paloma Partners Management Co’s holdings in Snowflake were worth $34,152,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Hershey Trust Co. purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $1,203,000. AQR Capital Management LLC grew its holdings in shares of Snowflake by 45.0% during the fourth quarter. AQR Capital Management LLC now owns 710,866 shares of the company’s stock valued at $109,765,000 after buying an additional 220,629 shares during the last quarter. Candlestick Capital Management LP purchased a new stake in Snowflake in the fourth quarter worth approximately $20,104,000. Lido Advisors LLC grew its position in Snowflake by 0.5% in the 4th quarter. Lido Advisors LLC now owns 21,393 shares of the company’s stock worth $3,303,000 after purchasing an additional 103 shares during the period. Finally, Northern Trust Corp raised its stake in Snowflake by 18.0% during the 4th quarter. Northern Trust Corp now owns 2,141,468 shares of the company’s stock valued at $330,664,000 after buying an additional 326,104 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Daiwa America raised Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Needham & Company LLC upped their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Evercore ISI upped their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group reduced their price objective on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.27.

Insider Activity

In related 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 value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,342 shares of company stock worth $61,578,513. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 0.4 %

Shares of NYSE SNOW opened at $158.96 on Tuesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm has a market cap of $52.47 billion, a PE ratio of -46.89 and a beta of 1.13. The business has a fifty day simple moving average of $154.37 and a two-hundred day simple moving average of $156.30. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.