Snowflake Inc. (NYSE:SNOW) is Quadrant Private Wealth Management LLC’s 7th Largest Position

Quadrant Private Wealth Management LLC lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 5.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 51,676 shares of the company’s stock after selling 2,787 shares during the quarter. Snowflake comprises about 2.0% of Quadrant Private Wealth Management LLC’s portfolio, making the stock its 7th largest position. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $7,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the third quarter valued at approximately $34,000. Finally, Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SNOW shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Bank of America increased their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Truist Financial reissued a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.63.

Snowflake Stock Down 2.5 %

SNOW stock opened at $187.86 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s 50 day simple moving average is $171.51 and its 200-day simple moving average is $141.58. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $236.33.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by insiders.

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.