Viawealth LLC Cuts Holdings in Snowflake Inc. (NYSE:SNOW)

Viawealth LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,890 shares of the company’s stock after selling 225 shares during the quarter. Viawealth LLC’s holdings in Snowflake were worth $446,000 as of its most recent SEC filing.

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

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,429 shares of company stock valued at $50,065,812 over the last ninety days. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNOW. Royal Bank of Canada lifted their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup upped their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Loop Capital increased their price target on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald lifted their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Up 1.0 %

Shares of NYSE:SNOW opened at $155.89 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $172.91 and a 200-day simple moving average of $148.98. The company has a market capitalization of $51.46 billion, a PE ratio of -45.98 and a beta of 1.07. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

Snowflake Company 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.