Elkhorn Partners Limited Partnership Has $62,000 Position in Snowflake Inc. (NYSE:SNOW)

Elkhorn Partners Limited Partnership trimmed its position in Snowflake Inc. (NYSE:SNOW) by 93.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400 shares of the company’s stock after selling 5,500 shares during the period. Elkhorn Partners Limited Partnership’s holdings in Snowflake were worth $62,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Belpointe Asset Management LLC raised its holdings in Snowflake by 7.5% in the fourth quarter. Belpointe Asset Management LLC now owns 2,629 shares of the company’s stock worth $406,000 after purchasing an additional 183 shares during the period. Mariner LLC increased its position in shares of Snowflake by 1.3% in the 4th quarter. Mariner LLC now owns 243,525 shares of the company’s stock valued at $37,603,000 after buying an additional 3,159 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in Snowflake during the 4th quarter worth $417,000. Sterling Capital Management LLC lifted its holdings in Snowflake by 7.8% during the fourth quarter. Sterling Capital Management LLC now owns 13,417 shares of the company’s stock worth $2,072,000 after acquiring an additional 974 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Snowflake by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 139,056 shares of the company’s stock valued at $21,472,000 after acquiring an additional 880 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $144.84 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. 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 Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm’s 50-day simple moving average is $163.16 and its 200 day simple moving average is $153.82.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Oppenheimer lifted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective for the company. Macquarie started coverage on shares of Snowflake in a research report on Wednesday, April 2nd. They issued a “neutral” rating and a $160.00 price objective on the stock. Finally, Loop Capital upped their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $201.84.

Insider Activity

In related news, CFO Michael Scarpelli sold 300,000 shares of the company’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 completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,589 shares of company stock worth $82,405,796. Corporate insiders own 7.80% of the company’s stock.

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.