TrueMark Investments LLC Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

TrueMark Investments LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,811 shares of the company’s stock after selling 1,048 shares during the quarter. TrueMark Investments LLC’s holdings in Snowflake were worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Asset Dedication LLC boosted its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group lifted its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after purchasing an additional 69 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after purchasing an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $162.86 on Wednesday. The stock’s 50-day moving average is $172.75 and its 200 day moving average is $150.63. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,968 shares of company stock worth $50,900,550 over the last ninety days. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNOW. Royal Bank of Canada raised their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Wedbush set a $210.00 price target on shares of Snowflake in a research note on Wednesday, January 22nd. Rosenblatt Securities upped their price objective on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. KeyCorp raised their target price on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their target price on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

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.