New York Life Investment Management LLC Sells 11,486 Shares of Snowflake Inc. (NYSE:SNOW)

New York Life Investment Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 71.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,682 shares of the company’s stock after selling 11,486 shares during the quarter. New York Life Investment Management LLC’s holdings in Snowflake were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Provence Wealth Management Group purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. lifted its position 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 acquiring an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position 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 purchasing an additional 97 shares in the last quarter. M&R Capital Management Inc. grew its position in shares of 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 in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the transaction, the senior vice president now owns 726,567 shares in the company, valued at $167,110,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,380 shares of company stock valued at $12,206,900. Insiders own 8.30% of the company’s stock.

Snowflake Trading Down 0.9 %

Shares of SNOW stock opened at $157.72 on Thursday. The company’s fifty day moving average price is $160.35 and its 200-day moving average price is $179.27. The stock has a market cap of $52.71 billion, a PE ratio of -61.85 and a beta of 0.90. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNOW. Truist Financial decreased their price target on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Redburn Atlantic reissued a “sell” rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. UBS Group upped their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.77.

Snowflake Company 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.