Wedbush Securities Inc. cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 45.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the company's stock after selling 2,375 shares during the quarter. Wedbush Securities Inc.'s holdings in Snowflake were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the 4th quarter worth about $29,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after purchasing an additional 144 shares during the last quarter. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Snowflake during the fourth quarter valued at $38,000. Institutional investors own 65.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Needham & Company LLC raised their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Daiwa Capital Markets began coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Truist Financial decreased their target price on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Evercore ISI lifted their price target on Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Ten equities research 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $201.84.
Check Out Our Latest Analysis on Snowflake
Insider Activity at Snowflake
In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This 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 90 days. Insiders own 7.80% of the company's stock.
Snowflake Stock Up 2.0 %
Snowflake stock traded up $2.95 during trading hours on Monday, reaching $147.91. The stock had a trading volume of 755,390 shares, compared to its average volume of 5,855,768. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a market cap of $48.83 billion, a price-to-earnings ratio of -43.63 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. The business's 50 day moving average price is $163.16 and its 200-day moving average price is $153.82.
Snowflake Company Profile
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Free Report)
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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