AM Investment Strategies LLC Cuts Stock Position in Snowflake Inc. (NYSE:SNOW)

AM Investment Strategies LLC lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,809 shares of the company’s stock after selling 221 shares during the period. AM Investment Strategies LLC’s holdings in Snowflake were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the 3rd quarter worth approximately $34,000. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after buying an additional 152 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Down 0.5 %

SNOW opened at $174.05 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a market capitalization of $57.45 billion, a PE ratio of -51.34 and a beta of 1.05. The firm’s 50 day simple moving average is $165.83 and its two-hundred day simple moving average is $136.13.

Analysts Set New Price Targets

SNOW has been the subject of a number of research analyst reports. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Monness Crespi & Hardt lifted their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial reiterated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Scotiabank raised their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada lifted their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $188.06.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 504,151 shares of company stock valued at $84,973,139. Corporate insiders own 7.80% of the company’s stock.

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.