Snowflake Inc. (NYSE:SNOW) Shares Sold by Modus Advisors LLC

Modus Advisors LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 42.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the company’s stock after selling 1,060 shares during the quarter. Modus Advisors LLC’s holdings in Snowflake were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Van ECK Associates Corp increased its position in Snowflake by 22.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,016 shares of the company’s stock valued at $1,083,000 after acquiring an additional 1,476 shares during the period. CIBC Asset Management Inc raised its stake in shares of Snowflake by 8.8% during the second quarter. CIBC Asset Management Inc now owns 11,161 shares of the company’s stock worth $1,508,000 after purchasing an additional 902 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Snowflake during the second quarter worth $301,000. Foundations Investment Advisors LLC increased its stake in Snowflake by 96.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 10,909 shares of the company’s stock valued at $1,474,000 after buying an additional 5,346 shares during the period. Finally, Gries Financial LLC purchased a new position in Snowflake during the 2nd quarter worth $209,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 1.1 %

Shares of SNOW traded up $1.68 during mid-day trading on Friday, reaching $159.19. The company’s stock had a trading volume of 671,119 shares, compared to its average volume of 1,993,684. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The business has a fifty day moving average of $151.05 and a 200 day moving average of $132.46. The company has a market cap of $52.55 billion, a price-to-earnings ratio of -46.96 and a beta of 1.03.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 394,122 shares of company stock valued at $64,136,014. 7.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SNOW shares. Royal Bank of Canada lifted their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. KeyCorp raised their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Argus assumed coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

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.