Snowflake Inc. (NYSE:SNOW) Holdings Reduced by Grassi Investment Management

Grassi Investment Management lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,670 shares of the company’s stock after selling 605 shares during the period. Snowflake accounts for about 1.0% of Grassi Investment Management’s investment portfolio, making the stock its 26th biggest holding. Grassi Investment Management’s holdings in Snowflake were worth $12,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Toronto Dominion Bank lifted its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the period. Independent Advisor Alliance lifted its position in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Franklin Resources Inc. boosted its stake in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares in the last quarter. Diversified Trust Co increased its position in shares of Snowflake by 174.8% during the 4th quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after purchasing an additional 3,121 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Snowflake by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after purchasing an additional 36,704 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Performance

SNOW traded down $2.01 during trading on Monday, hitting $160.45. The stock had a trading volume of 3,299,678 shares, compared to its average volume of 4,574,820. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $156.42 and a 200-day simple moving average of $133.97. The firm has a market cap of $52.96 billion, a PE ratio of -47.33 and a beta of 1.05. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock worth $62,545,855 in the last 90 days. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNOW. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Evercore ISI lifted their price target on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Mizuho lifted their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $187.69.

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.