MMA Asset Management LLC Takes $309,000 Position in Snowflake Inc. (NYSE:SNOW)

MMA Asset Management LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $309,000.

A number of other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC lifted its position in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp lifted its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after buying an additional 54,909 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent research reports. KeyCorp increased their price objective on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays increased their price objective on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities increased their price objective on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Finally, Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 1.8 %

Shares of NYSE:SNOW opened at $176.76 on Friday. The stock has a fifty day simple moving average of $173.19 and a two-hundred day simple moving average of $145.64. The stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.