Snowflake Inc. (NYSE:SNOW) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,957 shares of the company’s stock after selling 143 shares during the quarter. FourThought Financial Partners LLC’s holdings in Snowflake were worth $2,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNOW. Rakuten Securities Inc. acquired a new position in Snowflake during the 4th quarter valued at approximately $790,000. Sequoia Financial Advisors LLC increased its holdings in shares of Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Snowflake in the 3rd quarter valued at about $458,000. Glynn Capital Management LLC boosted its stake in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after purchasing an additional 5,629 shares during the period. Finally, Raymond James & Associates grew its position in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now owns 86,208 shares in the company, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank Slootman sold 86,078 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,458 shares of company stock worth $33,785,640. 8.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. Stifel Nicolaus lowered their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Friday, April 5th. Barclays decreased their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Finally, Needham & Company LLC dropped their price target on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Trading Up 1.0 %

NYSE SNOW traded up $1.55 during trading on Friday, reaching $159.32. The company’s stock had a trading volume of 3,660,233 shares, compared to its average volume of 4,335,201. The stock has a market capitalization of $53.24 billion, a PE ratio of -62.48 and a beta of 0.90. The business has a 50-day moving average price of $163.20 and a 200-day moving average price of $178.80. Snowflake Inc. has a 1-year low of $138.40 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. As a group, analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

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.