Amalgamated Bank Lowers Stock Position in Snowflake Inc. (NYSE:SNOW)

Amalgamated Bank decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,192 shares of the company’s stock after selling 4,396 shares during the quarter. Amalgamated Bank’s holdings in Snowflake were worth $6,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Snowflake by 54.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Snowflake by 89.0% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 1.0 %

Shares of NYSE SNOW opened at $159.32 on Monday. The stock has a market capitalization of $53.24 billion, a PE ratio of -62.48 and a beta of 0.90. The firm has a fifty day moving average of $163.20 and a 200-day moving average of $179.12. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SNOW shares. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Piper Sandler reissued an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. Truist Financial dropped their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Wedbush raised their target price on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $202.77.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank Slootman sold 86,078 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock valued at $31,585,640 over the last 90 days. 8.30% of the stock is owned by corporate 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.