Wealth Architects LLC Trims Stake in Snowflake Inc. (NYSE:SNOW)

Wealth Architects LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,651 shares of the company’s stock after selling 406 shares during the quarter. Wealth Architects LLC’s holdings in Snowflake were worth $1,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Jennison Associates LLC increased its position in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Two Sigma Advisers LP increased its position in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Snowflake during the fourth quarter worth approximately $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Snowflake by 165.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock worth $61,439,000 after acquiring an additional 333,500 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research reports. Loop Capital lifted their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 297,391 shares of company stock valued at $50,053,371 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Up 4.4 %

SNOW opened at $156.41 on Monday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a fifty day moving average of $173.24 and a two-hundred day moving average of $148.35. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of -46.14 and a beta of 1.07.

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.