Paloma Partners Management Co Has $34.15 Million Position in Snowflake Inc. (NYSE:SNOW)

Paloma Partners Management Co trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 43.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,176 shares of the company's stock after selling 172,852 shares during the period. Snowflake comprises approximately 1.5% of Paloma Partners Management Co's holdings, making the stock its 16th biggest holding. Paloma Partners Management Co owned 0.07% of Snowflake worth $34,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake in the fourth quarter worth $29,000. Quadrant Capital Group LLC lifted its holdings 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 purchasing an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co grew 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 worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Snowflake by 1,437.5% in the 4th 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 period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business's 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 in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,342 shares of company stock worth $61,578,513. Company insiders own 7.80% of the company's stock.

Snowflake Stock Performance

Shares of SNOW traded up $6.03 during midday trading on Thursday, hitting $165.52. 5,100,852 shares of the stock traded hands, compared to its average volume of 6,401,641. 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 firm has a market capitalization of $54.64 billion, a PE ratio of -48.83 and a beta of 1.13. The business's 50 day moving average price is $153.39 and its two-hundred day moving average price is $156.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Macquarie assumed coverage on Snowflake in a report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 price target for the company. BTIG Research upgraded shares of 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. Truist Financial decreased their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Jefferies Financial Group cut their target price on Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $200.27.

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.