PFG Investments LLC Cuts Stock Position in Snowflake Inc. (NYSE:SNOW)

PFG Investments LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,604 shares of the company’s stock after selling 1,335 shares during the period. PFG Investments LLC’s holdings in Snowflake were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank grew its position in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance raised its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in Snowflake during the 4th quarter worth about $5,851,000. Franklin Resources Inc. grew its stake in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Finally, Westend Capital Management LLC acquired a new position in shares of Snowflake in the fourth quarter valued at about $10,550,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 504,151 shares of company stock worth $84,973,139 in the last three months. 7.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

SNOW stock opened at $183.01 on Thursday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $60.41 billion, a PE ratio of -53.99 and a beta of 1.05. The business has a 50 day simple moving average of $167.95 and a 200-day simple moving average of $136.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Loop Capital upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. KeyCorp upped their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Oppenheimer lifted their price objective on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $188.06.

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.