Rockefeller Capital Management L.P. Raises Position in Snowflake Inc. (NYSE:SNOW)

Rockefeller Capital Management L.P. lifted its stake in Snowflake Inc. (NYSE:SNOW) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,327 shares of the company’s stock after buying an additional 9,327 shares during the period. Rockefeller Capital Management L.P.’s holdings in Snowflake were worth $17,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SNOW. Comerica Bank boosted its position in shares of Snowflake by 17.2% in the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after buying an additional 4,296 shares during the period. Cetera Investment Advisers boosted its holdings in Snowflake by 201.5% in the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after purchasing an additional 42,563 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Snowflake by 76.5% in the first quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock valued at $4,659,000 after purchasing an additional 12,497 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Snowflake by 30.3% in the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Snowflake in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. JMP Securities reduced their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Mizuho upped their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Canaccord Genuity Group cut their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Monness Crespi & Hardt upped their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $181.09.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 204,661 shares of company stock valued at $32,004,752 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 0.6 %

SNOW opened at $174.80 on Monday. The firm has a market cap of $58.59 billion, a PE ratio of -51.56 and a beta of 0.83. The business has a fifty day simple moving average of $126.17 and a 200-day simple moving average of $128.27. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

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.