Parametrica Management Ltd Has $982,000 Position in Snowflake Inc. (NYSE:SNOW)

Parametrica Management Ltd cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 50.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,935 shares of the company’s stock after selling 4,949 shares during the quarter. Snowflake makes up approximately 1.6% of Parametrica Management Ltd’s portfolio, making the stock its 21st biggest position. Parametrica Management Ltd’s holdings in Snowflake were worth $982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in Snowflake in the 4th quarter valued at about $790,000. Sequoia Financial Advisors LLC increased its holdings in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after purchasing an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Snowflake during the 3rd quarter worth approximately $458,000. Glynn Capital Management LLC increased its holdings in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on SNOW. Redburn Atlantic reissued a “sell” rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Piper Sandler restated an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a research note on Tuesday, February 27th. Wedbush boosted their target price on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Finally, Barclays cut their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Price Performance

NYSE SNOW traded up $5.63 during trading on Friday, hitting $158.13. 6,533,260 shares of the company’s stock traded hands, compared to its average volume of 4,341,603. The stock has a fifty day moving average of $169.91 and a two-hundred day moving average of $178.94. The firm has a market cap of $52.85 billion, a P/E ratio of -62.01 and a beta of 0.91. Snowflake Inc. has a 12-month low of $138.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The disclosure for this sale can be found here. Insiders sold 168,209 shares of company stock worth $34,291,592 over the last three months. Company insiders own 8.30% of the company’s stock.

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.