Resources Management Corp CT ADV reduced its holdings in Snowflake Inc. (NYSE:SNOW – Free Report) by 60.9% in the 4th quarter, HoldingsChannel reports. The fund owned 10,028 shares of the company’s stock after selling 15,597 shares during the period. Resources Management Corp CT ADV’s holdings in Snowflake were worth $2,200,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sargent Investment Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at $1,067,000. Mariner LLC boosted its stake in Snowflake by 7.9% during the fourth quarter. Mariner LLC now owns 222,998 shares of the company’s stock worth $48,934,000 after acquiring an additional 16,398 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in Snowflake by 29.3% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,381 shares of the company’s stock worth $304,000 after acquiring an additional 313 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Snowflake by 102.6% in the fourth quarter. Focus Partners Wealth now owns 153,708 shares of the company’s stock valued at $33,725,000 after buying an additional 77,835 shares in the last quarter. Finally, Glen Eagle Advisors LLC lifted its stake in shares of Snowflake by 49.3% in the fourth quarter. Glen Eagle Advisors LLC now owns 209 shares of the company’s stock valued at $46,000 after buying an additional 69 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.
Snowflake Price Performance
Snowflake stock opened at $232.38 on Monday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The business has a fifty day moving average price of $173.64 and a 200-day moving average price of $189.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $80.54 billion, a P/E ratio of -66.02 and a beta of 1.35.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Evercore set a $200.00 target price on shares of Snowflake in a report on Tuesday, April 14th. TD Cowen restated a “buy” rating and set a $300.00 price objective on shares of Snowflake in a report on Wednesday, June 3rd. Rosenblatt Securities raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Sanford C. Bernstein raised their price objective on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. Finally, The Goldman Sachs Group raised their price objective on shares of Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.
Check Out Our Latest Analysis on SNOW
Insider Activity at Snowflake
In other news, EVP Christian Kleinerman sold 2,729 shares of Snowflake stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $239.00, for a total transaction of $652,231.00. Following the completion of the sale, the executive vice president directly owned 413,002 shares of the company’s stock, valued at approximately $98,707,478. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the sale, the director directly owned 8,801 shares of the company’s stock, valued at $2,200,250. This represents a 91.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,589,550 shares of company stock valued at $359,438,410. Company insiders own 4.80% of the company’s stock.
About Snowflake
Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.
Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.
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