E&G Advisors LP Sells 500 Shares of Snowflake Inc. (NYSE:SNOW)

E&G Advisors LP decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 21.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,803 shares of the company’s stock after selling 500 shares during the period. E&G Advisors LP’s holdings in Snowflake were worth $278,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNOW. Groupama Asset Managment purchased a new position in Snowflake during the 3rd quarter worth $25,000. Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the 4th quarter valued at about $38,000. Finally, V Square Quantitative Management LLC purchased a new position in Snowflake during the third quarter valued at approximately $30,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE:SNOW opened at $182.70 on Tuesday. 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 one year low of $107.13 and a one year high of $237.72. The business’s 50-day simple moving average is $169.48 and its 200 day simple moving average is $137.72.

Wall Street Analyst Weigh In

Several analysts have recently commented on SNOW shares. Piper Sandler increased their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Cantor Fitzgerald assumed coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two equities research 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’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Insider Activity

In other Snowflake 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 value of $22,427,283.75. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 504,151 shares of company stock worth $84,973,139. 7.80% of the stock is owned by corporate insiders.

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.