Mayflower Financial Advisors LLC Lowers Position in Snowflake Inc. (NYSE:SNOW)

Mayflower Financial Advisors LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 17.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,466 shares of the company’s stock after selling 726 shares during the period. Mayflower Financial Advisors LLC’s holdings in Snowflake were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Snowflake by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock worth $36,332,000 after acquiring an additional 56,027 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Snowflake by 71.2% in the 2nd quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock worth $329,000 after purchasing an additional 1,014 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Snowflake by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,182 shares of the company’s stock worth $4,482,000 after purchasing an additional 146 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Snowflake by 42.5% in the 2nd quarter. NewEdge Advisors LLC now owns 13,800 shares of the company’s stock worth $1,864,000 after buying an additional 4,116 shares during the last quarter. Finally, Quarry LP increased its position in Snowflake by 608.2% during the 2nd quarter. Quarry LP now owns 949 shares of the company’s stock valued at $128,000 after buying an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SNOW shares. Evercore ISI boosted their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Oppenheimer upped their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. KeyCorp raised their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their target price on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their price target on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Price Performance

Shares of Snowflake stock opened at $183.01 on Thursday. The company has a market capitalization of $60.41 billion, a price-to-earnings ratio of -53.99 and a beta of 1.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $167.95 and its 200-day simple moving average is $136.74. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the transaction, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is owned by company insiders.

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.