Snowflake Inc. (NYSE:SNOW) Stock Holdings Lessened by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC lessened its stake in Snowflake Inc. (NYSE:SNOW) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,838 shares of the company’s stock after selling 372 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Snowflake were worth $438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Dedication LLC lifted its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group lifted its position in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of 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 acquiring an additional 90 shares in the last quarter. Modus Advisors LLC increased its holdings in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Finally, Catalyst Private Wealth LLC raised its stake in shares of 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 acquiring an additional 104 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price for the company. Loop Capital raised their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Friday, January 10th. Finally, Citigroup reduced their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Stock Performance

Shares of Snowflake stock opened at $179.42 on Friday. The firm has a 50 day simple moving average of $169.19 and a 200 day simple moving average of $137.36. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week 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 market cap of $59.23 billion, a P/E ratio of -52.93 and a beta of 1.05.

Insider Activity

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated 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 owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,151 shares of company stock valued at $84,973,139. Company 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.