Snowflake Inc. (NYSE:SNOW) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its stake in Snowflake Inc. (NYSE:SNOW) by 45.8% during the fourth quarter, Holdings Channel reports. The firm owned 8,374 shares of the company’s stock after selling 7,063 shares during the period. Westwood Holdings Group Inc.’s holdings in Snowflake were worth $1,293,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the 4th quarter valued at $31,000. Quadrant Capital Group LLC lifted its holdings in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares in the last quarter. Colonial Trust Co SC acquired a new position in shares of Snowflake during the 4th quarter valued at $33,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $182.81 on Wednesday. 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 fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a 50-day simple moving average of $156.90 and a 200 day simple moving average of $162.25. The company has a market cap of $60.35 billion, a PE ratio of -53.93 and a beta of 1.11.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This represents a 1.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This represents a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock valued at $58,204,058 in the last quarter. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. Needham & Company LLC lifted their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Finally, Macquarie began coverage on shares of Snowflake in a report on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

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.