Inspire Investing LLC Sells 800 Shares of Snowflake Inc. (NYSE:SNOW)

Inspire Investing LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 32.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,674 shares of the company’s stock after selling 800 shares during the quarter. Inspire Investing LLC’s holdings in Snowflake were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. 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 buying an additional 54,909 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Snowflake by 3.5% during the 3rd 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 last quarter. Two Sigma Advisers LP raised its stake in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of 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 valued at $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Snowflake by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after buying an additional 51,366 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock valued at $84,973,139 over the last quarter. 7.80% of the stock is owned by company insiders.

Snowflake Stock Up 7.0 %

Shares of NYSE SNOW opened at $187.89 on Wednesday. The firm has a market cap of $62.02 billion, a price-to-earnings ratio of -55.42 and a beta of 1.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The business’s 50 day moving average is $166.79 and its two-hundred day moving average is $136.37.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Argus began coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Mizuho lifted their price target on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

About Snowflake

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.