Peterson Wealth Management Reduces Holdings in Snowflake Inc. (NYSE:SNOW)

Peterson Wealth Management trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 41.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,995 shares of the company’s stock after selling 1,411 shares during the quarter. Peterson Wealth Management’s holdings in Snowflake were worth $229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Comerica Bank lifted its position in shares of Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after purchasing an additional 4,296 shares during the last quarter. EMC Capital Management bought a new stake in shares of Snowflake during the first quarter worth $63,000. Cetera Investment Advisers lifted its position in shares of Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after purchasing an additional 42,563 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Snowflake by 76.5% during the first quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock worth $4,659,000 after purchasing an additional 12,497 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Snowflake by 23.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after purchasing an additional 43,062 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock worth $32,004,752 over the last quarter. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays lifted their target price on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Mizuho lifted their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler restated an “overweight” rating and issued a $185.00 price objective (up from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Finally, Needham & Company LLC lifted 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 analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Trading Up 1.4 %

Shares of NYSE SNOW opened at $173.70 on Friday. The business’s 50 day moving average price is $124.88 and its 200 day moving average price is $128.64. Snowflake Inc. has a 52 week low of $107.13 and a 52 week 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.