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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of SNOW. Dakota Wealth Management purchased a new position in shares of Snowflake during the fourth quarter worth approximately $3,729,000. Nisa Investment Advisors LLC boosted its position in Snowflake by 31.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock valued at $314,000 after buying an additional 490 shares during the period. Red Spruce Capital LLC grew its position in Snowflake by 3.0% during the 4th quarter. Red Spruce Capital LLC now owns 13,620 shares of the company’s stock worth $2,103,000 after acquiring an additional 393 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth $5,851,000. Finally, Oxinas Partners Wealth Management LLC purchased a new stake in Snowflake during the 4th quarter valued at $364,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

SNOW opened at $174.23 on Wednesday. The company has a 50 day simple moving average of $163.02 and a two-hundred day simple moving average of $135.33. 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 firm has a market cap of $57.51 billion, a P/E ratio of -51.66 and a beta of 1.05. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock worth $62,545,855 in the last three months. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

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.