Snowflake Inc. (NYSE:SNOW) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 9.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,465 shares of the company’s stock after selling 374 shares during the quarter. Tradition Wealth Management LLC’s holdings in Snowflake were worth $398,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Modus Advisors LLC raised its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares during the period. Catalyst Private Wealth LLC lifted its holdings in shares of Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares during the period. LRI Investments LLC increased its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Finally, Hoylecohen LLC raised its position in Snowflake by 2.7% in the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,661 shares of company stock worth $32,004,752 in the last 90 days. 7.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNOW. Scotiabank dropped their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and lifted their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Needham & Company LLC increased their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wedbush upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Trading Up 0.6 %

SNOW stock opened at $174.80 on Monday. The company has a market capitalization of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. The business has a 50 day simple moving average of $126.17 and a 200-day simple moving average of $128.27. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

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.