Snowflake Inc. (NYSE:SNOW) Stake Lowered by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 65.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190 shares of the company’s stock after selling 356 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Snowflake were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Trueblood Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter valued at approximately $276,000. Diversify Advisory Services LLC grew its position in Snowflake by 7.4% in the fourth quarter. Diversify Advisory Services LLC now owns 100,284 shares of the company’s stock worth $16,292,000 after acquiring an additional 6,922 shares in the last quarter. Lbmc Investment Advisors LLC acquired a new position in shares of Snowflake during the 4th quarter worth $488,000. Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Clarius Group LLC raised its holdings in shares of Snowflake by 93.9% during the 4th quarter. Clarius Group LLC now owns 35,631 shares of the company’s stock valued at $5,502,000 after purchasing an additional 17,257 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNOW shares. Bank of America increased their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. DA Davidson restated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Piper Sandler increased their price target on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Price Performance

Shares of SNOW stock opened at $174.05 on Friday. The firm has a market cap of $57.45 billion, a price-to-earnings ratio of -51.34 and a beta of 1.05. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $164.87 and a 200 day moving average price of $135.90.

Insider Activity

In related news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is currently owned by insiders.

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.