Snowflake Inc. (NYSE:SNOW) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,390 shares of the company’s stock after selling 5,586 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Snowflake were worth $2,531,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after buying an additional 628,511 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Snowflake by 12,318.3% in the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after buying an additional 526,608 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Snowflake by 96.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock valued at $120,076,000 after buying an additional 513,214 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This represents a 18.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value 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 represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 504,151 shares of company stock valued at $84,973,139 over the last three months. 7.80% of the stock is currently owned by insiders.

Snowflake Trading Down 0.5 %

Shares of SNOW opened at $174.05 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. 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 firm has a 50 day simple moving average of $165.83 and a 200-day simple moving average of $136.13. The stock has a market cap of $57.45 billion, a price-to-earnings ratio of -51.34 and a beta of 1.05.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Loop Capital lifted their price target on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Friday, January 10th. Cantor Fitzgerald initiated coverage on shares of Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

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.