Manchester Capital Management LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Manchester Capital Management LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 69.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,886 shares of the company’s stock after purchasing an additional 770 shares during the period. Manchester Capital Management LLC’s holdings in Snowflake were worth $291,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth approximately $25,000. Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake during the fourth quarter worth approximately $38,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction 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 $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Up 2.2 %

SNOW stock opened at $187.56 on Thursday. The company’s 50 day moving average price is $171.23 and its 200 day moving average price is $140.81. The firm has a market capitalization of $61.91 billion, a price-to-earnings ratio of -55.33 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $236.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNOW. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. KeyCorp boosted their price objective on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Cantor Fitzgerald began coverage on shares of Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.63.

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.