Bamco Inc. NY Trims Stake in Snowflake Inc. (NYSE:SNOW)

Bamco Inc. NY decreased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,391 shares of the company's stock after selling 15,283 shares during the period. Bamco Inc. NY owned 0.08% of Snowflake worth $42,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the fourth quarter valued at $31,000. Quadrant Capital Group LLC increased its stake in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its stake in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNOW. Wells Fargo & Company decreased their price target on Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Truist Financial dropped their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Daiwa America upgraded Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $200.28.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is owned by insiders.

Snowflake Stock Up 2.1 %

Shares of Snowflake stock traded up $3.56 on Thursday, hitting $174.12. The company had a trading volume of 3,456,501 shares, compared to its average volume of 6,389,627. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day moving average of $153.27 and a 200-day moving average of $157.99. The stock has a market capitalization of $57.48 billion, a price-to-earnings ratio of -51.36 and a beta of 1.11.

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.