Peregrine Capital Management LLC Decreases Holdings in Snowflake Inc. (NYSE:SNOW)

Peregrine Capital Management LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 324,887 shares of the company’s stock after selling 15,474 shares during the period. Snowflake accounts for about 1.5% of Peregrine Capital Management LLC’s portfolio, making the stock its 13th largest position. Peregrine Capital Management LLC’s holdings in Snowflake were worth $50,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC grew its position in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares during the period. Breakwater Capital Group grew its holdings in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after purchasing an additional 62 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 90 shares in the last quarter. Catalyst Private Wealth LLC raised its stake in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after acquiring an additional 115 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on SNOW shares. Jefferies Financial Group lifted their target price 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. 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. Royal Bank of Canada boosted their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC raised 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. Finally, Wedbush raised shares of Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.63.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock valued at $88,283,752 over the last three months. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Down 2.5 %

Snowflake stock opened at $187.86 on Tuesday. The stock’s fifty day moving average is $171.66 and its two-hundred day moving average is $142.19. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $236.33. 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 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.