Stonegate Investment Group LLC Decreases Position in Snowflake Inc. (NYSE:SNOW)

Stonegate Investment Group LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 82.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,710 shares of the company’s stock after selling 7,854 shares during the quarter. Stonegate Investment Group LLC’s holdings in Snowflake were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Snowflake by 26.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after purchasing an additional 56,027 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Snowflake by 71.2% during the second quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock valued at $329,000 after buying an additional 1,014 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Snowflake by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,182 shares of the company’s stock worth $4,482,000 after buying an additional 146 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Snowflake by 42.5% in the 2nd quarter. NewEdge Advisors LLC now owns 13,800 shares of the company’s stock worth $1,864,000 after buying an additional 4,116 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in Snowflake by 46.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 5,393 shares of the company’s stock worth $729,000 after buying an additional 1,716 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock valued at $84,973,139 in the last quarter. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. Argus began coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. KeyCorp lifted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler increased their price target on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Cantor Fitzgerald initiated coverage on Snowflake in a research note on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Price Performance

NYSE:SNOW opened at $187.89 on Wednesday. The business’s 50-day moving average is $166.79 and its 200 day moving average is $136.37. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.