Capital Investment Services of America Inc. Sells 602 Shares of Snowflake Inc. (NYSE:SNOW)

Capital Investment Services of America Inc. cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,628 shares of the company’s stock after selling 602 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Snowflake were worth $15,384,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the third quarter worth about $30,000. Fortitude Family Office LLC bought a new position in Snowflake during the third quarter valued at approximately $34,000. Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake in the 4th quarter worth approximately $38,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Friday, January 10th. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Finally, TD Cowen raised their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $187.06.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock valued at $88,283,752 in the last three months. 7.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $188.59 on Thursday. 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 company has a market cap of $62.25 billion, a PE ratio of -55.63 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s fifty day simple moving average is $170.36 and its 200-day simple moving average is $138.86.

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.