Snowflake Inc. (NYSE:SNOW) is Quadrant Private Wealth Management LLC's 7th Largest Position

Quadrant Private Wealth Management LLC decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,676 shares of the company's stock after selling 2,787 shares during the period. Snowflake accounts for 2.0% of Quadrant Private Wealth Management LLC's portfolio, making the stock its 7th largest position. Quadrant Private Wealth Management LLC's holdings in Snowflake were worth $7,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank increased 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 in the last quarter. Prospect Financial Services LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $288,000. Independent Advisor Alliance increased its position in shares of Snowflake by 15.5% during 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $5,851,000. Institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a research report on Tuesday. Piper Sandler raised their price target on shares of Snowflake from $185.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a research report on Tuesday. Bank of America raised their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC lifted their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.75.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, 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 SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company's 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 transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 in the last three months. Insiders own 7.80% of the company's stock.

Snowflake Price Performance

Shares of Snowflake stock traded down $3.70 during trading hours on Wednesday, reaching $189.08. The company's stock had a trading volume of 2,370,770 shares, compared to its average volume of 5,074,487. The firm has a 50 day moving average price of $172.08 and a 200-day moving average price of $142.71. Snowflake Inc. has a one year low of $107.13 and a one year high of $235.66. 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 stock has a market cap of $62.42 billion, a P/E ratio of -55.74 and a beta of 1.07.

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.