Sanibel Captiva Trust Company Inc. Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Sanibel Captiva Trust Company Inc. trimmed its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,693 shares of the company's stock after selling 9,581 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Snowflake were worth $879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Breakwater Capital Group lifted its position in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after purchasing an additional 90 shares during the last quarter. Modus Advisors LLC boosted its stake in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company's stock valued at $286,000 after purchasing an additional 94 shares during the period. Catalyst Private Wealth LLC grew its holdings in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company's stock valued at $382,000 after buying an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its position in Snowflake by 6.7% during the 3rd 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. 65.10% of the stock is currently owned by institutional investors.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares of the company's stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company's stock, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 in the last 90 days. Corporate insiders own 7.80% of the company's stock.

Analyst Ratings Changes

SNOW has been the topic of several research reports. Citigroup decreased their price target on shares of Snowflake from $200.00 to $183.00 and set a "buy" rating on the stock in a research note on Monday, November 18th. JMP Securities reiterated a "market outperform" rating and issued a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. KeyCorp increased their price target on Snowflake from $185.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Scotiabank lifted their price objective on Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a report on Monday, December 9th. Finally, Bank of America increased their target price on Snowflake from $160.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $188.06.

Snowflake Trading Up 1.9 %

SNOW traded up $3.25 during trading on Friday, reaching $170.89. 4,156,568 shares of the stock traded hands, compared to its average volume of 3,873,271. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average is $161.11 and its 200 day moving average is $134.97. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05.

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.