Peterson Wealth Management Sells 1,411 Shares of Snowflake Inc. (NYSE:SNOW)

Peterson Wealth Management lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 41.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,995 shares of the company’s stock after selling 1,411 shares during the period. Peterson Wealth Management’s holdings in Snowflake were worth $229,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its holdings in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after buying an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after purchasing an additional 43,062 shares in the last quarter. Cetera Investment Advisers boosted its stake in Snowflake by 201.5% in the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after purchasing an additional 42,563 shares in the last quarter. Fulton Bank N.A. boosted its stake in Snowflake by 17.4% in the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after purchasing an additional 228 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Snowflake by 77.0% in the 2nd quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock worth $17,992,000 after purchasing an additional 57,960 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 20,514 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction 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 trade 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 worth $32,004,752 in the last three months. 7.80% of the stock is owned by company insiders.

Snowflake Stock Performance

SNOW stock opened at $173.70 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The business has a 50 day simple moving average of $124.88 and a two-hundred day simple moving average of $128.64.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $180.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. JMP Securities decreased their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group boosted their target price on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

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.