TBH Global Asset Management LLC Reduces Position in Snowflake Inc. (NYSE:SNOW)

TBH Global Asset Management LLC lowered its position in Snowflake Inc. (NYSE:SNOW) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,764 shares of the company’s stock after selling 313 shares during the quarter. TBH Global Asset Management LLC’s holdings in Snowflake were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SNOW. Blue Trust Inc. increased its holdings in shares of Snowflake by 168.5% in the third quarter. Blue Trust Inc. now owns 1,407 shares of the company’s stock valued at $162,000 after purchasing an additional 883 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Snowflake by 73.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Snowflake by 449.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 720 shares of the company’s stock worth $83,000 after buying an additional 589 shares during the last quarter. Signaturefd LLC raised its position in Snowflake by 13.0% during the third quarter. Signaturefd LLC now owns 2,161 shares of the company’s stock worth $248,000 after acquiring an additional 248 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of Snowflake during the 3rd quarter worth approximately $40,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now owns 311,999 shares in the company, 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 440,241 shares of company stock valued at $75,367,285 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several analyst reports. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Friday, January 10th. Cantor Fitzgerald assumed coverage on shares of Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. Loop Capital upped their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, UBS Group raised their price target on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $190.75.

Snowflake Stock Performance

SNOW stock opened at $186.44 on Thursday. The company has a 50-day simple moving average of $172.37 and a 200 day simple moving average of $143.01. 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 company has a market capitalization of $61.54 billion, a P/E ratio of -55.00 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $235.66.

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.