Snowflake Inc. (NYSE:SNOW) Position Trimmed by Glynn Capital Management LLC

Glynn Capital Management LLC trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,527 shares of the company’s stock after selling 4,901 shares during the period. Snowflake makes up about 6.8% of Glynn Capital Management LLC’s portfolio, making the stock its 5th biggest position. Glynn Capital Management LLC’s holdings in Snowflake were worth $36,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Provence Wealth Management Group acquired a new position in Snowflake in the third quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Snowflake by 54.1% during the 3rd 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 period. Global Wealth Management Investment Advisory Inc. grew its position in Snowflake by 89.0% during 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. M&R Capital Management Inc. grew its position in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 1.4 %

Shares of SNOW traded up $2.25 during trading on Wednesday, reaching $157.45. 1,602,649 shares of the company traded hands, compared to its average volume of 6,423,203. The stock has a 50-day simple moving average of $167.16 and a 200-day simple moving average of $179.13. The stock has a market cap of $52.62 billion, a PE ratio of -61.06 and a beta of 0.91. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, equities research analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the topic of several research analyst reports. UBS Group raised their price objective on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Needham & Company LLC lowered their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. HSBC reissued a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Friday, April 5th. Finally, Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.00.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of Snowflake stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders have sold a total of 168,209 shares of company stock worth $34,291,592 in the last ninety days. 8.30% of the stock is owned by corporate insiders.

Snowflake 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.