Snowflake Inc. (NYSE:SNOW) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,785 shares of the company's stock after selling 2,626 shares during the period. IHT Wealth Management LLC's holdings in Snowflake were worth $1,356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNOW. Prospect Financial Services LLC acquired a new position in Snowflake in the fourth quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. raised 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 worth $104,028,000 after purchasing an additional 8,857 shares during the period. Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at $5,851,000. Stephens Consulting LLC boosted its position in shares of Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after purchasing an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC increased its stake in Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after purchasing an additional 4,559 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Up 2.3 %

SNOW opened at $140.14 on Wednesday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50 day moving average of $157.00 and a 200-day moving average of $155.02. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of -41.34 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush set a $210.00 target price on shares of Snowflake in a report on Wednesday, January 22nd. Royal Bank of Canada lifted their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Barclays increased their target price on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. DA Davidson lowered their price target on Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler raised their price objective on Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $201.35.

Insiders Place Their Bets

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 364,342 shares of company stock worth $59,978,513 in the last ninety days. Insiders own 7.80% of the company's stock.

About Snowflake

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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