Brooklyn Investment Group Sells 902 Shares of Snowflake Inc. (NYSE:SNOW)

Brooklyn Investment Group lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 52.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 820 shares of the company’s stock after selling 902 shares during the period. Brooklyn Investment Group’s holdings in Snowflake were worth $94,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board lifted its holdings in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Legal & General Group Plc grew its position in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Snowflake by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after acquiring an additional 8,743 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Snowflake by 3.0% during the third 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNOW shares. KeyCorp upped their price target on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, JMP Securities cut their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total value of $3,595,283.64. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,582,896.10. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock valued at $32,004,752 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $173.70 on Friday. The stock has a market capitalization of $58.22 billion, a P/E ratio of -51.24 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company’s fifty day moving average price is $124.88 and its 200 day moving average price is $128.64.

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.