Peregrine Capital Management LLC Sells 15,474 Shares of Snowflake Inc. (NYSE:SNOW)

Peregrine Capital Management LLC trimmed its position in Snowflake Inc. (NYSE:SNOW) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,887 shares of the company’s stock after selling 15,474 shares during the quarter. Snowflake makes up approximately 1.5% of Peregrine Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Peregrine Capital Management LLC owned approximately 0.10% of Snowflake worth $50,166,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNOW. Toronto Dominion Bank lifted its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $288,000. Independent Advisor Alliance increased its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in Snowflake in the 4th quarter worth approximately $5,851,000. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 2.5 %

Shares of SNOW opened at $187.86 on Tuesday. The firm has a fifty day simple moving average of $171.66 and a two-hundred day simple moving average of $142.19. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $236.33.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Needham & Company LLC lifted their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Loop Capital increased their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $187.63.

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.