Snowflake Inc. (NYSE:SNOW) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 40.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,039 shares of the company’s stock after selling 2,041 shares during the quarter. Balboa Wealth Partners’ holdings in Snowflake were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNOW. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Snowflake by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,858 shares of the company’s stock valued at $76,366,000 after acquiring an additional 3,487 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Snowflake by 19.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 11,307 shares of the company’s stock valued at $1,299,000 after purchasing an additional 1,848 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Snowflake by 49.7% in the 3rd quarter. Victory Capital Management Inc. now owns 420,088 shares of the company’s stock valued at $48,251,000 after purchasing an additional 139,459 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Snowflake by 59.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,851 shares of the company’s stock worth $4,003,000 after purchasing an additional 13,053 shares during the period. Finally, Kovack Advisors Inc. increased its position in shares of Snowflake by 39.3% during the 3rd quarter. Kovack Advisors Inc. now owns 3,194 shares of the company’s stock worth $367,000 after purchasing an additional 901 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $149.83 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a 50-day simple moving average of $173.36 and a 200-day simple moving average of $147.60. The stock has a market capitalization of $49.46 billion, a price-to-earnings ratio of -44.20 and a beta of 1.07.

Analyst Ratings Changes

A number of research firms have commented on SNOW. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Jefferies Financial Group upped their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the company’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 transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the sale, the executive vice president now directly owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is owned by company 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.