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

Vontobel Holding Ltd. cut its holdings in Snowflake Inc. (NYSE:SNOW) by 13.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 48,157 shares of the company’s stock after selling 7,548 shares during the period. Vontobel Holding Ltd.’s holdings in Snowflake were worth $7,436,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNOW. Inspire Investing LLC raised its holdings in Snowflake by 27.3% in the 3rd quarter. Inspire Investing LLC now owns 2,474 shares of the company’s stock valued at $284,000 after acquiring an additional 530 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Snowflake by 2,182.3% during the 3rd quarter. NBC Securities Inc. now owns 2,191 shares of the company’s stock worth $251,000 after buying an additional 2,095 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Snowflake by 2.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,516 shares of the company’s stock worth $6,377,000 after buying an additional 1,309 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth $30,000. Finally, Stonegate Investment Group LLC increased its holdings in shares of Snowflake by 6.8% during the 3rd quarter. Stonegate Investment Group LLC now owns 9,564 shares of the company’s stock worth $1,099,000 after buying an additional 610 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. Oppenheimer upped their price objective on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Needham & Company LLC increased their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $187.63.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $187.86 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $171.51 and its two-hundred day moving average price is $141.67. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $236.33. The stock has a market capitalization of $62.01 billion, a P/E ratio of -55.42 and a beta of 1.07.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. 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 Snowflake stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock valued at $88,283,752 over the last quarter. 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.