Balboa Wealth Partners Sells 2,041 Shares of Snowflake Inc. (NYSE:SNOW)

Balboa Wealth Partners decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,039 shares of the company's stock after selling 2,041 shares during the quarter. Balboa Wealth Partners' holdings in Snowflake were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SNOW. Jennison Associates LLC lifted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp lifted its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

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Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Jefferies Financial Group increased their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 21st. UBS Group increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Finally, BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.92.

Snowflake Price Performance

Shares of NYSE:SNOW traded down $2.04 on Tuesday, reaching $154.35. The company's stock had a trading volume of 4,951,085 shares, compared to its average volume of 6,181,990. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a market cap of $50.95 billion, a P/E ratio of -45.53 and a beta of 1.07. The company has a 50-day simple moving average of $173.11 and a 200 day simple moving average of $148.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 685 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the sale, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,508 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company's stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 287,648 shares of company stock valued at $48,387,318 in the last three months. Corporate insiders own 7.80% 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.