Snowflake Inc. (NYSE:SNOW) Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 39.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,839 shares of the company’s stock after selling 2,455 shares during the quarter. Perpetual Ltd’s holdings in Snowflake were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SNOW. Dimensional Fund Advisors LP increased its position in shares of Snowflake by 26.3% during the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock worth $36,332,000 after purchasing an additional 56,027 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Snowflake by 71.2% in the second quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock valued at $329,000 after acquiring an additional 1,014 shares during the period. Frank Rimerman Advisors LLC increased its stake in Snowflake by 39.9% in the second quarter. Frank Rimerman Advisors LLC now owns 3,242 shares of the company’s stock valued at $438,000 after purchasing an additional 924 shares during the period. Gabelli Funds LLC grew its holdings in shares of Snowflake by 25.0% during the second quarter. Gabelli Funds LLC now owns 1,840 shares of the company’s stock worth $249,000 after buying an additional 368 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Snowflake by 12.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,464 shares of the company’s stock worth $603,000 after acquiring an additional 501 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

NYSE:SNOW opened at $177.54 on Thursday. The company has a market cap of $58.61 billion, a P/E ratio of -52.37 and a beta of 1.05. The firm’s 50 day moving average is $163.02 and its two-hundred day moving average is $135.33. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNOW shares. Piper Sandler upped their price target on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JMP Securities restated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

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.