GM Advisory Group LLC Reduces Holdings in Snowflake Inc. (NYSE:SNOW)

GM Advisory Group LLC lessened its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,629 shares of the company's stock after selling 2,789 shares during the quarter. GM Advisory Group LLC's holdings in Snowflake were worth $252,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SNOW. Toronto Dominion Bank increased its position in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company's stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in Snowflake in the fourth quarter valued at $288,000. Independent Advisor Alliance lifted its holdings in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company's stock valued at $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth $5,851,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Up 3.1 %

SNOW traded up $4.97 on Monday, reaching $163.36. 3,880,961 shares of the company's stock were exchanged, compared to its average volume of 6,331,001. The company has a market cap of $53.93 billion, a price-to-earnings ratio of -48.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company's 50 day moving average is $172.74 and its 200-day moving average is $149.89.

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Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 297,568 shares of company stock valued at $49,923,480 over the last 90 days. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Cantor Fitzgerald raised their price objective on Snowflake from $201.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Mizuho raised their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.08.

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.