Intech Investment Management LLC Reduces Position in Snowflake Inc. (NYSE:SNOW)

Intech Investment Management LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,945 shares of the company’s stock after selling 977 shares during the quarter. Intech Investment Management LLC’s holdings in Snowflake were worth $2,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SNOW. ProShare Advisors LLC boosted its stake in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after buying an additional 295 shares during the period. Gamco Investors INC. ET AL lifted its position in Snowflake by 132.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock worth $939,000 after acquiring an additional 3,310 shares during the period. Gabelli Funds LLC purchased a new position in shares of Snowflake in the 1st quarter valued at approximately $238,000. LRI Investments LLC acquired a new position in shares of Snowflake in the first quarter valued at approximately $29,000. Finally, BOKF NA raised its stake in shares of Snowflake by 1,424.9% during the first quarter. BOKF NA now owns 7,960 shares of the company’s stock worth $1,278,000 after purchasing an additional 7,438 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SNOW shares. Evercore ISI lifted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho boosted their price target on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Finally, Robert W. Baird reduced their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Trading Down 2.3 %

Shares of Snowflake stock opened at $167.44 on Monday. The business’s fifty day moving average price is $120.06 and its 200 day moving average price is $127.80. The stock has a market capitalization of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred 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 owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $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. In the last quarter, insiders sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is currently 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.