Grassi Investment Management Has $12.15 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Grassi Investment Management decreased its stake in Snowflake Inc. (NYSE:SNOW) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 78,670 shares of the company’s stock after selling 605 shares during the period. Snowflake accounts for approximately 1.0% of Grassi Investment Management’s holdings, making the stock its 26th largest position. Grassi Investment Management’s holdings in Snowflake were worth $12,147,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Independent Advisor Alliance increased its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after purchasing an additional 3,121 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Snowflake by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after acquiring an additional 36,704 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

NYSE SNOW traded down $2.01 on Monday, reaching $160.45. The stock had a trading volume of 3,299,678 shares, compared to its average volume of 4,574,820. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $52.96 billion, a P/E ratio of -47.33 and a beta of 1.05. The firm has a fifty day moving average of $156.42 and a two-hundred day moving average of $133.97. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. This represents a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,904 shares of company stock worth $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNOW. Needham & Company LLC raised their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. TD Cowen lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $187.69.

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.