SG Americas Securities LLC Has $4.46 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

SG Americas Securities LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 96.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,902 shares of the company’s stock after selling 732,795 shares during the period. SG Americas Securities LLC’s holdings in Snowflake were worth $4,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its stake in shares of Snowflake by 1.9% in the 4th quarter. Westside Investment Management Inc. now owns 12,574 shares of the company’s stock valued at $1,942,000 after purchasing an additional 230 shares in the last quarter. Dakota Wealth Management acquired a new stake in Snowflake during the 4th quarter valued at $3,729,000. Nisa Investment Advisors LLC boosted its stake in Snowflake by 31.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock worth $314,000 after purchasing an additional 490 shares in the last quarter. Red Spruce Capital LLC increased its stake in shares of Snowflake by 3.0% in the fourth quarter. Red Spruce Capital LLC now owns 13,620 shares of the company’s stock valued at $2,103,000 after buying an additional 393 shares in the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in shares of Snowflake in the fourth quarter valued at about $5,851,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. KeyCorp raised their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Truist Financial reissued a “buy” rating and issued a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Citigroup cut their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity

In related news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 504,151 shares of company stock worth $84,973,139. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $174.05 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. 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 firm’s 50-day simple moving average is $164.87 and its 200 day simple moving average is $135.90. The firm has a market cap of $57.45 billion, a price-to-earnings ratio of -51.34 and a beta of 1.05.

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.