Snowflake Inc. (NYSE:SNOW) Shares Sold by Man Group plc

Man Group plc trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,027 shares of the company's stock after selling 6,544 shares during the period. Man Group plc's holdings in Snowflake were worth $14,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Stonebridge Financial Group LLC purchased a new position in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its stake in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after acquiring an additional 91 shares during the period. Colonial Trust Co SC bought a new stake in Snowflake in the fourth quarter valued at $33,000. Finally, Blue Bell Private Wealth Management LLC increased 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 valued at $34,000 after purchasing an additional 144 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 0.4%

Snowflake stock traded up $0.76 during mid-day trading on Tuesday, reaching $182.81. 4,216,765 shares of the company were exchanged, compared to its average volume of 6,409,322. 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 firm has a market cap of $60.35 billion, a P/E ratio of -53.93 and a beta of 1.11. The business has a fifty day moving average of $156.90 and a 200 day moving average of $162.25. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction 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 $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 in the last three months. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Macquarie initiated coverage on shares of Snowflake in a research note on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 price target for the company. Barclays boosted their target price on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Bank of America raised their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, Truist Financial lowered their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $201.00.

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.