Snowflake Inc. (NYSE:SNOW) Stake Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its holdings in Snowflake Inc. (NYSE:SNOW) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,327 shares of the company’s stock after purchasing an additional 9,327 shares during the period. Rockefeller Capital Management L.P.’s holdings in Snowflake were worth $17,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SNOW. LRI Investments LLC raised its holdings in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the second quarter worth $39,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Up 0.6 %

NYSE:SNOW opened at $174.80 on Monday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The firm has a 50 day moving average of $126.17 and a 200-day moving average of $128.27. The stock has a market capitalization of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83.

Insider Activity

In other news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,661 shares of company stock worth $32,004,752. Insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. Royal Bank of Canada raised their target price on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Bank of America raised their target price on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.09.

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.