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

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

Several other hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its stake in Snowflake by 8.7% during the fourth quarter. Metis Global Partners LLC now owns 7,594 shares of the company’s stock worth $1,173,000 after purchasing an additional 607 shares during the last quarter. US Bancorp DE lifted its stake in Snowflake by 21.1% during the fourth quarter. US Bancorp DE now owns 26,169 shares of the company’s stock worth $4,041,000 after purchasing an additional 4,565 shares during the last quarter. SVB Wealth LLC bought a new stake in Snowflake during the fourth quarter worth about $11,135,000. Private Trust Co. NA lifted its stake in Snowflake by 1,570.3% during the fourth quarter. Private Trust Co. NA now owns 1,069 shares of the company’s stock worth $165,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Snowflake by 80.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 307 shares of the company’s stock worth $47,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SNOW. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 20th. TD Cowen boosted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Loop Capital boosted 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,712 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the sale, the director now owns 205,965 shares in the company, valued at $36,867,735. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 297,193 shares of company stock worth $50,220,063 in the last 90 days. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $173.81 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $57.37 billion, a P/E ratio of -51.27 and a beta of 1.07. The stock’s 50 day moving average is $173.43 and its 200 day moving average is $146.10. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

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.