Private Advisor Group LLC Sells 6,083 Shares of Snowflake Inc. (NYSE:SNOW)

Private Advisor Group LLC cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 20.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,363 shares of the company’s stock after selling 6,083 shares during the period. Private Advisor Group LLC’s holdings in Snowflake were worth $3,607,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SNOW. Lyell Wealth Management LP boosted its stake in shares of Snowflake by 0.6% in the 4th quarter. Lyell Wealth Management LP now owns 57,730 shares of the company’s stock worth $8,914,000 after buying an additional 347 shares during the last quarter. Global Retirement Partners LLC grew its position in Snowflake by 86.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,270 shares of the company’s stock valued at $351,000 after buying an additional 1,053 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in Snowflake during the fourth quarter valued at approximately $7,736,000. Venturi Wealth Management LLC raised its position in Snowflake by 575.6% in the fourth quarter. Venturi Wealth Management LLC now owns 3,655 shares of the company’s stock worth $564,000 after acquiring an additional 3,114 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in shares of Snowflake by 93.1% during the 4th quarter. D.A. Davidson & CO. now owns 66,901 shares of the company’s stock worth $10,330,000 after acquiring an additional 32,253 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $177.79 on Monday. The firm has a market capitalization of $58.69 billion, a PE ratio of -52.45 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66. The firm has a 50-day moving average price of $172.88 and a 200-day moving average price of $144.17. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. Royal Bank of Canada raised their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald initiated coverage on Snowflake in a research note on Friday, January 17th. They issued an “overweight” rating and a $201.00 price objective on the stock. UBS Group increased their target price on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Bank of America lifted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Mizuho increased their price objective on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.43.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 20,514 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total value of $3,595,283.64. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This trade represents a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the transaction, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 392,324 shares of company stock valued at $66,935,828 over the last 90 days. Insiders own 7.80% of the company’s stock.

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.