Allworth Financial LP Sells 5,187 Shares of Snowflake Inc. (NYSE:SNOW)

Allworth Financial LP lowered its position in Snowflake Inc. (NYSE:SNOW) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,487 shares of the company’s stock after selling 5,187 shares during the period. Allworth Financial LP’s holdings in Snowflake were worth $2,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter worth about $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the 4th quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new position in Snowflake during the third quarter valued at approximately $34,000. Finally, Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 2.8 %

Shares of NYSE SNOW opened at $192.91 on Wednesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66. The firm’s 50-day simple moving average is $172.08 and its 200 day simple moving average is $142.71. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $63.68 billion, a price-to-earnings ratio of -56.91 and a beta of 1.07.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America lifted their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Piper Sandler increased their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Mizuho raised their target price on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group upped their price target on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $188.94.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 516,933 shares of company stock worth $88,283,752. Corporate insiders own 7.80% of the company’s stock.

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.