Snowflake Inc. (NYSE:SNOW) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 58.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,726 shares of the company’s stock after selling 160,444 shares during the period. Townsquare Capital LLC’s holdings in Snowflake were worth $17,715,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its stake in Snowflake by 11.8% in the third quarter. Orion Portfolio Solutions LLC now owns 5,071 shares of the company’s stock valued at $582,000 after acquiring an additional 536 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Toronto Dominion Bank grew its stake in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the last quarter. Sunbelt Securities Inc. increased its position in Snowflake by 2.6% during the third quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock worth $636,000 after buying an additional 142 shares during the period. Finally, Rehmann Capital Advisory Group lifted its stake in Snowflake by 10.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock valued at $222,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNOW shares. Evercore ISI lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer upped their target price on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays upped their price objective on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Daiwa Capital Markets started coverage on Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.84.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction 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 in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $144.84 on Friday. The business has a fifty day simple moving average of $163.16 and a 200 day simple moving average of $153.53. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market cap of $47.81 billion, a price-to-earnings ratio of -42.72 and a beta of 1.13.

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.