Snowflake Inc. (NYSE:SNOW) Position Trimmed by Advisory Services Network LLC

Advisory Services Network LLC lowered its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 66.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,580 shares of the company's stock after selling 5,007 shares during the period. Advisory Services Network LLC's holdings in Snowflake were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $29,000. Quadrant Capital Group LLC raised its holdings in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares during the last quarter. Perkins Coie Trust Co increased its position in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Snowflake in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Jefferies Financial Group cut their price target on Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Oppenheimer increased their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Macquarie started coverage on shares of Snowflake in a report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $201.76.

Snowflake Stock Down 1.9 %

Shares of NYSE:SNOW traded down $2.74 during midday trading on Friday, hitting $143.34. 2,483,780 shares of the company's stock traded hands, compared to its average volume of 6,427,039. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market cap of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm's fifty day moving average price is $159.07 and its two-hundred day moving average price is $154.66.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock valued at $82,405,796 over the last quarter. Company insiders own 7.80% of the company's stock.

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.