Lmcg Investments LLC Reduces Stock Position in Snowflake Inc. (NYSE:SNOW)

Lmcg Investments LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,123 shares of the company’s stock after selling 496 shares during the quarter. Lmcg Investments LLC’s holdings in Snowflake were worth $328,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNOW shares. Oppenheimer lifted their target price on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. KeyCorp increased their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. TD Cowen lifted 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. Finally, Needham & Company LLC increased their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Trading Up 1.5 %

Snowflake stock opened at $173.43 on Wednesday. The firm has a market cap of $57.25 billion, a price-to-earnings ratio of -51.16 and a beta of 1.05. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The firm’s 50 day moving average price is $162.06 and its two-hundred day moving average price is $135.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. This represents a 33.87 % 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 three months. 7.80% of the stock is currently owned by corporate insiders.

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.