Perpetual Ltd Lowers Stock Position in Snowflake Inc. (NYSE:SNOW)

Perpetual Ltd decreased its position in Snowflake Inc. (NYSE:SNOW) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,839 shares of the company’s stock after selling 2,455 shares during the period. Perpetual Ltd’s holdings in Snowflake were worth $593,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Independent Advisor Alliance grew its holdings in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the period. Franklin Resources Inc. increased its position in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares in the last quarter. Westend Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $10,550,000. Finally, Kraematon Investment Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $240,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In other news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by company insiders.

Snowflake Stock Performance

Shares of Snowflake stock opened at $177.54 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $58.61 billion, a price-to-earnings ratio of -52.37 and a beta of 1.05. The business has a 50-day moving average of $163.02 and a 200 day moving average of $135.33. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp upped their price target 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. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Needham & Company LLC increased their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $188.06.

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.