Intellectus Partners LLC Decreases Stake in Snowflake Inc. (NYSE:SNOW)

Intellectus Partners LLC lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,310 shares of the company’s stock after selling 425 shares during the period. Intellectus Partners LLC’s holdings in Snowflake were worth $2,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SNOW. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new stake in Snowflake during the 4th quarter valued at about $288,000. Independent Advisor Alliance grew its stake in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Snowflake by 1.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $5,851,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $158.54 on Friday. The company has a fifty day simple moving average of $173.79 and a 200-day simple moving average of $146.90. 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 firm has a market capitalization of $52.33 billion, a price-to-earnings ratio of -46.77 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNOW. Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada lifted their price objective on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00. Following the transaction, the director now owns 205,965 shares in the company, valued at $36,867,735. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,193 shares of company stock valued at $50,096,313. 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.