Crestline Management LP Trims Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Crestline Management LP lessened its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 68.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,063 shares of the company's stock after selling 51,757 shares during the period. Crestline Management LP's holdings in Snowflake were worth $3,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its holdings in Snowflake by 74.6% during the fourth 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 lifted its holdings in Snowflake by 189.5% during the fourth 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 in the last quarter. Finally, Perkins Coie Trust Co lifted its holdings in 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 purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Trading Up 2.9%

SNOW traded up $5.12 on Monday, hitting $179.26. The company had a trading volume of 1,844,026 shares, compared to its average volume of 6,387,622. The firm has a market cap of $59.17 billion, a P/E ratio of -52.92 and a beta of 1.11. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company's fifty day moving average price is $153.28 and its 200 day moving average price is $159.39. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

Insider Buying and Selling at Snowflake

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

Analysts Set New Price Targets

Several brokerages have weighed in on SNOW. Macquarie initiated coverage on shares of Snowflake in a report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price target on the stock. Rosenblatt Securities boosted their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, Oppenheimer upped their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Ten 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. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $200.28.

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.