Bridgefront Capital LLC Sells 2,694 Shares of Snowflake Inc. (NYSE:SNOW)

Bridgefront Capital LLC cut its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 29.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,449 shares of the company's stock after selling 2,694 shares during the quarter. Bridgefront Capital LLC's holdings in Snowflake were worth $996,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter worth about $31,000. Quadrant Capital Group LLC grew its stake in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after buying an additional 144 shares during the period. Finally, Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after buying an additional 139 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 356,963 shares of company stock valued at $58,204,058. Corporate insiders own 7.80% of the company's stock.

Snowflake Stock Up 2.1 %

Shares of SNOW traded up $3.56 during trading hours on Thursday, reaching $174.12. The stock had a trading volume of 3,456,501 shares, compared to its average volume of 6,389,627. The firm has a 50-day simple moving average of $153.27 and a 200 day simple moving average of $157.99. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. 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 has a market capitalization of $57.48 billion, a price-to-earnings ratio of -51.36 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNOW shares. BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research note on Thursday, February 20th. Needham & Company LLC lifted their price target on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Macquarie started coverage on Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price objective for the company. Evercore ISI lifted their target price on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $200.28.

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.