Intech Investment Management LLC Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Intech Investment Management LLC lowered its position in Snowflake Inc. (NYSE:SNOW) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,945 shares of the company’s stock after selling 977 shares during the period. Intech Investment Management LLC’s holdings in Snowflake were worth $2,061,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SNOW. LRI Investments LLC acquired a new stake in Snowflake in the first quarter worth about $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake in the third quarter worth $30,000. Global Financial Private Client LLC acquired a new stake in shares of Snowflake during the first quarter worth $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the second quarter valued at $39,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SNOW shares. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. Loop Capital cut their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Jefferies Financial Group raised their price target on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Thursday. Finally, Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Shares of Snowflake stock opened at $167.44 on Monday. The stock has a 50 day moving average of $120.06 and a 200 day moving average of $127.80. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Activity

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 in the last quarter. Insiders own 7.80% of the company’s stock.

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.