Twin Capital Management Inc. Has $1.74 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Twin Capital Management Inc. reduced its position in Snowflake Inc. (NYSE:SNOW) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,745 shares of the company’s stock after selling 154 shares during the period. Twin Capital Management Inc.’s holdings in Snowflake were worth $1,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. PNC Financial Services Group Inc. increased its stake in shares of Snowflake by 79.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after buying an additional 1,897 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $2,880,000. Panagora Asset Management Inc. increased its stake in shares of Snowflake by 24.8% in the 1st quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock valued at $623,000 after buying an additional 540 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Snowflake in the 1st quarter valued at $362,000. Finally, Cibc World Market Inc. increased its stake in shares of Snowflake by 37.2% in the 1st quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock valued at $3,198,000 after buying an additional 3,783 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the transaction, the executive now directly owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 2,346 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,555 shares of company stock valued at $36,868,487. Insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective (down from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Oppenheimer decreased their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Friday, April 5th. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC decreased their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $148.45 on Friday. The stock has a 50 day moving average price of $179.56 and a 200 day moving average price of $179.04. Snowflake Inc. has a 52 week low of $135.26 and a 52 week high of $237.72. The stock has a market capitalization of $49.61 billion, a PE ratio of -58.22 and a beta of 0.91.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. As a group, research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current year.

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.