Elkhorn Partners Limited Partnership lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 93.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the company's stock after selling 5,500 shares during the quarter. Elkhorn Partners Limited Partnership's holdings in Snowflake were worth $62,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Orion Portfolio Solutions LLC boosted its holdings in shares of Snowflake by 11.8% during the third quarter. Orion Portfolio Solutions LLC now owns 5,071 shares of the company's stock worth $582,000 after purchasing an additional 536 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock valued at $4,276,000 after purchasing an additional 7,239 shares during the period. Westside Investment Management Inc. lifted its holdings in Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock worth $1,438,000 after buying an additional 3,971 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Snowflake by 2.1% in the third quarter. Sanctuary Advisors LLC now owns 25,328 shares of the company's stock valued at $2,909,000 after purchasing an additional 514 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after buying an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.
Insider Transactions at Snowflake
In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,589 shares of company stock valued at $82,405,796 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
SNOW has been the topic of several recent research reports. KeyCorp cut their price target on Snowflake from $220.00 to $192.00 and set an "overweight" rating on the stock in a report on Thursday. Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. Rosenblatt Securities increased their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Macquarie began coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 target price for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $183.00 target price on shares of Snowflake in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $201.76.
Read Our Latest Analysis on SNOW
Snowflake Stock Performance
Shares of SNOW stock traded down $2.74 during trading hours on Friday, hitting $143.34. The company's stock had a trading volume of 2,483,780 shares, compared to its average volume of 6,410,768. The stock has a market cap of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13. The company has a 50 day moving average of $159.87 and a 200 day moving average of $154.12. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.
Snowflake Profile
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Free Report)
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.
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