Jacobi Capital Management LLC Sells 150 Shares of Snowflake Inc. (NYSE:SNOW)

Jacobi Capital Management LLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,752 shares of the company’s stock after selling 150 shares during the quarter. Jacobi Capital Management LLC’s holdings in Snowflake were worth $271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNOW. Groupama Asset Managment bought a new position in Snowflake in the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the 4th quarter valued at $29,000. Perkins Coie Trust Co lifted its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Snowflake during the 4th quarter valued at $38,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after buying an additional 230 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 1.9 %

SNOW opened at $173.81 on Tuesday. The firm has a market cap of $57.37 billion, a P/E ratio of -51.27 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 current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $173.43 and a 200 day moving average of $146.10.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNOW shares. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Mizuho increased their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Rosenblatt Securities increased their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,193 shares of company stock worth $50,220,063. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.