Intellectus Partners LLC Trims Stake in Snowflake Inc. (NYSE:SNOW)

Intellectus Partners LLC lessened its holdings in Snowflake Inc. (NYSE:SNOW) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,310 shares of the company’s stock after selling 425 shares during the period. Intellectus Partners LLC’s holdings in Snowflake were worth $2,827,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in Snowflake by 13.9% during the third quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company’s stock worth $3,916,000 after buying an additional 4,168 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Snowflake by 33.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company’s stock worth $4,474,000 after purchasing an additional 9,743 shares during the period. Olympiad Research LP acquired a new stake in Snowflake in the 3rd quarter valued at approximately $255,000. Quantum Private Wealth LLC increased its holdings in Snowflake by 35.3% in the 3rd quarter. Quantum Private Wealth LLC now owns 14,003 shares of the company’s stock valued at $1,608,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its position in Snowflake by 7.9% in the third quarter. Washington Trust Advisors Inc. now owns 58,429 shares of the company’s stock valued at $6,711,000 after purchasing an additional 4,268 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. KeyCorp lifted their price objective on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Scotiabank raised their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Up 1.5 %

Shares of NYSE SNOW opened at $158.54 on Friday. The business has a 50-day moving average price of $173.79 and a 200 day moving average price of $146.90. The stock has a market cap of $52.33 billion, a PE ratio of -46.77 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now owns 196,454 shares of the company’s stock, valued at $33,593,634. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,193 shares of company stock worth $50,096,313. 7.80% of the stock is owned by insiders.

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.