Private Advisor Group LLC Has $3.61 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Private Advisor Group LLC lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,363 shares of the company’s stock after selling 6,083 shares during the quarter. Private Advisor Group LLC’s holdings in Snowflake were worth $3,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $29,000. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter worth $25,000. Perkins Coie Trust Co increased its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the period. Geneos Wealth Management Inc. raised its stake in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake during the fourth quarter worth about $38,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE:SNOW opened at $177.79 on Monday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $235.66. The stock has a fifty day moving average of $172.88 and a 200 day moving average of $144.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays raised shares of 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. Truist Financial restated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. Loop Capital raised 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. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.43.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 392,324 shares of company stock worth $66,935,828 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

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.