International Assets Investment Management LLC Decreases Stake in Snowflake Inc. (NYSE:SNOW)

International Assets Investment Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 99.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,659 shares of the company’s stock after selling 526,224 shares during the quarter. International Assets Investment Management LLC’s holdings in Snowflake were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. State Street Corp raised its stake in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC increased its position in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP boosted its position in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc lifted its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNOW shares. Jefferies Financial Group upped their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Argus initiated coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Citigroup decreased their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, Royal Bank of Canada lifted their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock worth $62,545,855 over the last three months. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 1.5 %

NYSE:SNOW opened at $161.16 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. 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 50-day moving average price of $155.48 and a 200-day moving average price of $133.61. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of -47.54 and a beta of 1.05.

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.