IHT Wealth Management LLC Cuts Stake in Snowflake Inc. (NYSE:SNOW)

IHT Wealth Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,785 shares of the company's stock after selling 2,626 shares during the quarter. IHT Wealth Management LLC's holdings in Snowflake were worth $1,356,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Snowflake in the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the 4th quarter worth approximately $750,572,000. Jennison Associates LLC boosted its stake in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. FMR LLC grew its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, Groupama Asset Managment lifted its holdings in Snowflake by 930,132.6% during the fourth quarter. Groupama Asset Managment now owns 2,000,000 shares of the company's stock valued at $308,820,000 after purchasing an additional 1,999,785 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 0.8 %

SNOW stock traded down $1.33 during trading on Monday, reaching $157.08. 699,822 shares of the company traded hands, compared to its average volume of 6,403,698. 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 company has a market capitalization of $51.85 billion, a price-to-earnings ratio of -46.21 and a beta of 1.13. The business has a 50 day simple moving average of $154.91 and a 200 day simple moving average of $156.06. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares of the company's stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNOW shares. Bank of America lifted their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Stifel Nicolaus increased their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group reduced their price target on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Barclays increased their price objective on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $200.27.

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.