Paloma Partners Management Co Sells 172,852 Shares of Snowflake Inc. (NYSE:SNOW)

Paloma Partners Management Co lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 43.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,176 shares of the company’s stock after selling 172,852 shares during the quarter. Snowflake accounts for approximately 1.5% of Paloma Partners Management Co’s portfolio, making the stock its 16th largest position. Paloma Partners Management Co owned about 0.07% of Snowflake worth $34,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Stonebridge Financial Group LLC bought a new stake in Snowflake during the 4th quarter valued at $29,000. Quadrant Capital Group LLC increased its stake in Snowflake by 74.6% during 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 grew its stake in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the 4th quarter worth $38,000. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNOW. Oppenheimer upped their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. KeyCorp reduced their target price on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Mizuho upped their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler reduced their target price on shares of Snowflake from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.27.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $158.96 on Tuesday. The company has a market cap of $52.47 billion, a price-to-earnings ratio of -46.89 and a beta of 1.13. The company has a 50-day moving average price of $154.37 and a 200-day moving average price of $156.30. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction 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 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. Over the last ninety days, insiders sold 374,342 shares of company stock valued at $61,578,513. Insiders own 7.80% of the company’s stock.

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.