Mmbg Investment Advisors CO. Sells 1,170 Shares of Snowflake Inc. (NYSE:SNOW)

Mmbg Investment Advisors CO. reduced its stake in Snowflake Inc. (NYSE:SNOW) by 29.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,864 shares of the company’s stock after selling 1,170 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in Snowflake were worth $442,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new position in Snowflake in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its holdings in shares of Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Colonial Trust Co SC acquired a new position in shares of Snowflake during the 4th quarter worth $33,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after buying an additional 144 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at $28,345,319.64. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the transaction, the director now owns 25,972 shares of the company’s stock, valued at approximately $4,363,555.72. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock valued at $58,204,058 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $174.14 on Monday. 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 stock has a market cap of $57.48 billion, a price-to-earnings ratio of -51.37 and a beta of 1.11. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The business’s 50-day simple moving average is $153.28 and its 200 day simple moving average is $159.39.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Tuesday, February 18th. Piper Sandler lowered their target price on Snowflake from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Loop Capital boosted their target price on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC increased their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

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.