Rhumbline Advisers Has $58.20 Million Position in Snowflake Inc. (NYSE:SNOW)

Rhumbline Advisers lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,890 shares of the company’s stock after selling 1,682 shares during the period. Rhumbline Advisers owned approximately 0.11% of Snowflake worth $58,196,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. PUREfi Wealth LLC acquired a new position in Snowflake in the fourth quarter worth about $205,000. ABC Arbitrage SA acquired a new position in Snowflake in the fourth quarter worth about $1,491,000. Chevy Chase Trust Holdings LLC raised its position in Snowflake by 4.2% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 221,166 shares of the company’s stock worth $34,150,000 after purchasing an additional 8,878 shares in the last quarter. V Square Quantitative Management LLC raised its position in Snowflake by 240.2% in the fourth quarter. V Square Quantitative Management LLC now owns 888 shares of the company’s stock worth $139,000 after purchasing an additional 627 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Snowflake by 4.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,225 shares of the company’s stock worth $18,756,000 after purchasing an additional 4,597 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 516,933 shares of company stock valued at $88,283,752. Corporate insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Mizuho upped their price objective 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. Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC upped their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Trading Down 2.5 %

Shares of NYSE:SNOW opened at $187.86 on Monday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $236.33. 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 company’s fifty day simple moving average is $171.51 and its 200 day simple moving average is $141.74. The firm has a market cap of $62.01 billion, a price-to-earnings ratio of -55.42 and a beta of 1.07.

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.