SG Americas Securities LLC Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

SG Americas Securities LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 96.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,902 shares of the company’s stock after selling 732,795 shares during the period. SG Americas Securities LLC’s holdings in Snowflake were worth $4,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank grew its position in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $5,851,000. Franklin Resources Inc. boosted its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. Finally, Westend Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth $10,550,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Down 0.5 %

SNOW opened at $174.05 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business has a 50 day moving average price of $164.87 and a 200 day moving average price of $135.90. The firm has a market cap of $57.45 billion, a P/E ratio of -51.34 and a beta of 1.05.

Analyst Upgrades and Downgrades

SNOW has been the subject of several analyst reports. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Needham & Company LLC raised their target price on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Cantor Fitzgerald began coverage on shares of Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price objective for the company. Finally, Evercore ISI boosted their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, 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. Over the last three months, insiders sold 504,151 shares of company stock worth $84,973,139. 7.80% of the stock is owned by insiders.

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.