Snowflake Inc. (NYSE:SNOW) Shares Sold by Avestar Capital LLC

Avestar Capital LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 31.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,898 shares of the company’s stock after selling 1,793 shares during the quarter. Avestar Capital LLC’s holdings in Snowflake were worth $602,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNOW. Groupama Asset Managment purchased a new position in Snowflake during the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the 3rd quarter valued at approximately $34,000. Finally, Perkins Coie Trust Co lifted its stake in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 2.9 %

SNOW stock opened at $192.69 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $236.33. The firm has a market cap of $63.61 billion, a PE ratio of -56.84 and a beta of 1.07. The firm’s 50 day moving average price is $171.23 and its 200-day moving average price is $140.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Ratings Changes

SNOW has been the topic of several analyst reports. Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Scotiabank lifted their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.63.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 516,933 shares of company stock valued at $88,283,752 over the last quarter. 7.80% of the stock is owned by insiders.

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.