Glynn Capital Management LLC Has $18.55 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Glynn Capital Management LLC lessened its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,147 shares of the company's stock after selling 10,708 shares during the period. Snowflake accounts for 4.4% of Glynn Capital Management LLC's investment portfolio, making the stock its 12th largest position. Glynn Capital Management LLC's holdings in Snowflake were worth $18,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter valued at about $29,000. Groupama Asset Managment purchased a new stake in Snowflake in the third quarter worth $25,000. Blue Bell Private Wealth Management LLC lifted its position in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co boosted its position 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 purchasing an additional 139 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

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Snowflake Price Performance

NYSE SNOW traded up $0.75 on Friday, reaching $157.94. 3,604,059 shares of the stock traded hands, compared to its average volume of 6,340,684. The firm's fifty day simple moving average is $172.74 and its 200 day simple moving average is $149.61. The company has a market cap of $52.14 billion, a price-to-earnings ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analyst Weigh In

Several brokerages have commented on SNOW. Loop Capital increased their target price on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Bank of America boosted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Jefferies Financial Group lifted their target price on Snowflake from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Oppenheimer lifted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $205.08.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on 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 sale, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 7,016 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04. Following the completion of the transaction, the director now owns 182,999 shares of the company's stock, valued at $28,491,114.31. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,429 shares of company stock worth $50,065,812 in the last quarter. 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.