Glynn Capital Management LLC Sells 4,901 Shares of Snowflake Inc. (NYSE:SNOW)

Glynn Capital Management LLC lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,527 shares of the company’s stock after selling 4,901 shares during the period. Snowflake comprises 6.8% of Glynn Capital Management LLC’s holdings, making the stock its 5th biggest holding. Glynn Capital Management LLC owned approximately 0.06% of Snowflake worth $36,522,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Provence Wealth Management Group acquired a new stake in shares of Snowflake during the 3rd quarter valued at $30,000. M&R Capital Management Inc. raised its position in Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Mizuho reaffirmed a “buy” rating and set a $205.00 target price (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Redburn Atlantic reiterated a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Needham & Company LLC lowered their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Stock Up 1.4 %

SNOW stock traded up $2.25 during midday trading on Wednesday, hitting $157.45. The company’s stock had a trading volume of 1,602,649 shares, compared to its average volume of 6,423,203. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The stock has a market cap of $52.62 billion, a price-to-earnings ratio of -61.06 and a beta of 0.91. The stock’s 50-day moving average price is $167.16 and its 200 day moving average price is $179.13.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, equities analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 689 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the sale, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 689 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,209 shares of company stock worth $34,291,592. 8.30% 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.