Snowflake Inc. (NYSE:SNOW) Shares Sold by Avestar Capital LLC

Avestar Capital LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 31.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,898 shares of the company’s stock after selling 1,793 shares during the period. Avestar Capital LLC’s holdings in Snowflake were worth $602,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at $29,000. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth about $25,000. Perkins Coie Trust Co raised its position in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after buying an additional 230 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Snowflake during the fourth quarter worth about $38,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 in the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 2.9 %

Shares of SNOW opened at $192.69 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $236.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $63.61 billion, a P/E ratio of -56.84 and a beta of 1.07. The firm’s 50-day moving average is $171.23 and its two-hundred day moving average is $140.81.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several analyst reports. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wedbush raised shares of Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Bank of America boosted their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Evercore ISI raised their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.