Adero Partners LLC Reduces Position in Snowflake Inc. (NYSE:SNOW)

Adero Partners LLC trimmed its position in Snowflake Inc. (NYSE:SNOW) by 9.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 210,808 shares of the company’s stock after selling 22,464 shares during the period. Snowflake makes up 2.1% of Adero Partners LLC’s holdings, making the stock its 15th biggest holding. Adero Partners LLC’s holdings in Snowflake were worth $32,551,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake in the 3rd quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the third quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in Snowflake during the 3rd quarter valued at about $34,000. Perkins Coie Trust Co raised its position in Snowflake by 136.3% during 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. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake during the 4th quarter valued at approximately $38,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Truist Financial reissued a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. KeyCorp raised their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,933 shares of company stock worth $88,283,752 over the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE SNOW opened at $188.59 on Thursday. 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 market capitalization of $62.25 billion, a price-to-earnings ratio of -55.63 and a beta of 1.07. The stock has a 50-day moving average of $170.36 and a 200 day moving average of $138.86. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72.

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.