Madrona Venture Group LLC Has $35.77 Million Position in Snowflake Inc. (NYSE:SNOW)

Madrona Venture Group LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 46.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,633 shares of the company’s stock after selling 200,000 shares during the quarter. Snowflake accounts for 66.5% of Madrona Venture Group LLC’s portfolio, making the stock its largest position. Madrona Venture Group LLC’s holdings in Snowflake were worth $35,766,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Dedication LLC raised its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares in the last quarter. Quarry LP lifted its holdings in Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group boosted its position in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after purchasing an additional 62 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wedbush set a $210.00 target price on shares of Snowflake in a report on Wednesday, January 22nd. Rosenblatt Securities raised their price objective on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Piper Sandler reduced their target price on Snowflake from $215.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America lifted their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.28.

Snowflake Stock Up 0.3%

SNOW opened at $181.09 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a market capitalization of $59.78 billion, a P/E ratio of -53.42 and a beta of 1.11. 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 firm’s fifty day moving average price is $153.84 and its two-hundred day moving average price is $159.99.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,963 shares of company stock valued at $58,204,058. 7.80% of the stock is currently owned by corporate insiders.

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.