Snowflake Inc. (NYSE:SNOW) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,390 shares of the company’s stock after selling 5,586 shares during the period. Exchange Traded Concepts LLC’s holdings in Snowflake were worth $2,531,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Breakwater Capital Group increased its position in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares during the period. Modus Advisors LLC increased its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its position in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after purchasing an additional 104 shares during the period. Finally, Clear Creek Financial Management LLC lifted its stake in shares of Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Truist Financial restated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC upped their price objective on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Stock Down 0.5 %

SNOW stock opened at $174.05 on Friday. The firm’s 50-day moving average is $165.83 and its two-hundred day moving average is $136.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $57.45 billion, a price-to-earnings ratio of -51.34 and a beta of 1.05. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock worth $84,973,139 over the last ninety days. Company insiders own 7.80% of the company’s stock.

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.