International Assets Investment Management LLC Sells 526,224 Shares of Snowflake Inc. (NYSE:SNOW)

International Assets Investment Management LLC lowered its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 99.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,659 shares of the company's stock after selling 526,224 shares during the quarter. International Assets Investment Management LLC's holdings in Snowflake were worth $734,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Modus Advisors LLC grew its position in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company's stock valued at $286,000 after acquiring an additional 94 shares in the last quarter. Catalyst Private Wealth LLC boosted its stake in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company's stock valued at $382,000 after acquiring an additional 104 shares during the period. Clear Creek Financial Management LLC increased its position in Snowflake by 6.7% in the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company's stock worth $210,000 after buying an additional 115 shares during the period. Covestor Ltd lifted its position in Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company's stock valued at $95,000 after purchasing an additional 115 shares during the last quarter. Finally, Alta Wealth Advisors LLC raised its holdings in shares of Snowflake by 3.9% during the third quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company's stock valued at $369,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNOW. Rosenblatt Securities restated a "buy" rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Wells Fargo & Company raised shares of Snowflake from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $150.00 to $200.00 in a research note on Tuesday. Oppenheimer reiterated an "outperform" rating and set a $180.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Truist Financial restated a "buy" rating and issued a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Finally, DA Davidson reiterated a "buy" rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $187.11.

Snowflake Stock Performance

SNOW traded up $1.62 on Friday, hitting $162.65. The company had a trading volume of 5,898,992 shares, compared to its average volume of 4,806,422. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company's fifty day moving average price is $155.48 and its 200 day moving average price is $133.61. The stock has a market cap of $53.69 billion, a price-to-earnings ratio of -47.98 and a beta of 1.05.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by insiders.

Snowflake 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.