Snowflake Inc. (NYSE:SNOW) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,230 shares of the company's stock after selling 2,436 shares during the quarter. Westpac Banking Corp's holdings in Snowflake were worth $653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC raised its position in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group boosted its position in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock valued at $454,000 after purchasing an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after buying an additional 69 shares during the period. Larson Financial Group LLC raised its holdings in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after acquiring an additional 90 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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Snowflake Trading Down 6.0 %

Shares of Snowflake stock traded down $9.07 during trading on Thursday, hitting $142.08. The stock had a trading volume of 1,613,802 shares, compared to its average volume of 6,430,315. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm's fifty day simple moving average is $164.81 and its 200-day simple moving average is $153.09. The stock has a market cap of $46.90 billion, a PE ratio of -41.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity at Snowflake

In other news, 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 transaction of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on 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 sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock worth $82,405,796 in the last quarter. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNOW. Mizuho boosted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. StockNews.com raised shares of Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Oppenheimer lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Monness Crespi & Hardt raised their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.84.

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.