Snowflake Inc. (NYSE:SNOW) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,852 shares of the company’s stock after selling 86 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Snowflake were worth $904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in Snowflake in the 4th quarter valued at $288,000. Independent Advisor Alliance grew its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. Bourgeon Capital Management LLC acquired a new stake in Snowflake in the 4th quarter valued at $5,851,000. Finally, Franklin Resources Inc. grew its stake in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock worth $84,973,139 over the last 90 days. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SNOW shares. Scotiabank lifted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial reissued a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC raised their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Up 1.3 %

Shares of Snowflake stock opened at $181.66 on Friday. The business has a 50-day simple moving average of $169.19 and a 200-day simple moving average of $137.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

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.