MML Investors Services LLC Trims Stock Position in Snowflake Inc. (NYSE:SNOW)

MML Investors Services LLC lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 29.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,812 shares of the company’s stock after selling 12,808 shares during the quarter. MML Investors Services LLC’s holdings in Snowflake were worth $3,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Modus Advisors LLC increased its position in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares during the last quarter. Catalyst Private Wealth LLC increased its position in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares during the last quarter. LRI Investments LLC increased its holdings in Snowflake by 155.6% in the 2nd 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. Clear Creek Financial Management LLC increased its holdings in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after acquiring an additional 115 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.4 %

Shares of NYSE SNOW opened at $167.67 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $55.35 billion, a price-to-earnings ratio of -49.46 and a beta of 1.03. The stock has a 50 day moving average price of $138.94 and a 200 day moving average price of $129.66. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reduced their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Loop Capital reduced their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Mizuho increased their target price on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Bank of America increased their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Evercore ISI upped their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.89.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 294,384 shares of company stock worth $47,993,609. Company 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.