Janney Capital Management LLC Reduces Position in Snowflake Inc. (NYSE:SNOW)

Janney Capital Management LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 79,084 shares of the company’s stock after selling 900 shares during the period. Janney Capital Management LLC’s holdings in Snowflake were worth $12,211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Breakwater Capital Group grew its stake in Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 90 shares during the period. Modus Advisors LLC grew its stake in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its position in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after buying an additional 115 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Up 0.4 %

NYSE SNOW opened at $174.23 on Wednesday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $57.51 billion, a PE ratio of -51.66 and a beta of 1.05. The company has a fifty day moving average of $163.02 and a 200 day moving average of $135.33.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 in the last quarter. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Loop Capital boosted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Jefferies Financial Group lifted their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.06.

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.