Sequoia Financial Advisors LLC Trims Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Sequoia Financial Advisors LLC reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 42.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,417 shares of the company’s stock after selling 2,510 shares during the period. Sequoia Financial Advisors LLC’s holdings in Snowflake were worth $528,000 at the end of the most recent reporting period.

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

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 861 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the transaction, the executive vice president now owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 287,648 shares of company stock valued at $48,387,318 over the last ninety days. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SNOW shares. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Mizuho boosted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Up 0.2 %

Shares of NYSE SNOW opened at $156.39 on Tuesday. The stock has a 50 day moving average price of $173.11 and a 200 day moving average price of $148.65. The firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of -46.13 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.