EMC Capital Management Lowers Stock Holdings in Snowflake Inc. (NYSE:SNOW)

EMC Capital Management trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 84.4% in the fourth quarter, HoldingsChannel reports. The fund owned 3,060 shares of the company’s stock after selling 16,521 shares during the period. EMC Capital Management’s holdings in Snowflake were worth $472,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SNOW. Groupama Asset Managment purchased a new position in Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake during the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in Snowflake during the third quarter worth about $34,000. Perkins Coie Trust Co grew its stake in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake in the 4th quarter worth about $38,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNOW shares. Monness Crespi & Hardt boosted their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho lifted their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Scotiabank boosted their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Finally, KeyCorp raised their price objective on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.06.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 504,151 shares of company stock worth $84,973,139. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Down 1.9 %

Shares of Snowflake stock opened at $179.49 on Thursday. The firm has a 50-day simple moving average of $169.02 and a two-hundred day simple moving average of $137.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market cap of $59.25 billion, a P/E ratio of -53.05 and a beta of 1.05.

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.