Amitell Capital Pte Ltd Cuts Stock Position in Snowflake Inc. (NYSE:SNOW)

Amitell Capital Pte Ltd lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,400 shares of the company's stock after selling 9,790 shares during the quarter. Snowflake makes up approximately 3.7% of Amitell Capital Pte Ltd's investment portfolio, making the stock its 10th largest position. Amitell Capital Pte Ltd's holdings in Snowflake were worth $4,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $29,000. Quadrant Capital Group LLC increased its position in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after buying an additional 91 shares during the last quarter. Groupama Asset Managment bought a new stake in Snowflake in the third quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its stake in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock worth $82,405,796 over the last ninety days. 7.80% of the stock is owned by insiders.

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Snowflake Trading Up 0.3 %

NYSE SNOW traded up $0.39 on Friday, reaching $144.84. The company had a trading volume of 4,084,734 shares, compared to its average volume of 6,444,161. The firm has a market cap of $47.81 billion, a price-to-earnings ratio of -42.72 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The business has a 50 day moving average of $163.16 and a two-hundred day moving average of $153.53.

Analyst Ratings Changes

Several brokerages have issued reports on SNOW. Canaccord Genuity Group raised their price target on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Bank of America raised their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Monness Crespi & Hardt upped their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Piper Sandler boosted their price objective on Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada increased their target price on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $201.84.

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.