E&G Advisors LP Decreases Position in Snowflake Inc. (NYSE:SNOW)

E&G Advisors LP lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,803 shares of the company’s stock after selling 500 shares during the quarter. E&G Advisors LP’s holdings in Snowflake were worth $278,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Groupama Asset Managment acquired a new position in shares of Snowflake during the 3rd quarter valued at about $25,000. Perkins Coie Trust Co lifted its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Snowflake in the 4th quarter worth about $38,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.7 %

SNOW stock opened at $182.70 on Tuesday. The firm has a 50 day simple moving average of $169.48 and a 200-day simple moving average of $137.72. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNOW shares. Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Oppenheimer boosted their price target on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. 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 report on Thursday, November 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $210.00 target price on shares of Snowflake 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-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares in the company, valued at $4,667,476.32. This trade represents a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock valued at $84,973,139 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake 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.