Atria Investments Inc Lowers Position in Snowflake Inc. (NYSE:SNOW)

Atria Investments Inc decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 33.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,393 shares of the company’s stock after selling 2,215 shares during the period. Atria Investments Inc’s holdings in Snowflake were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SNOW. Groupama Asset Managment purchased a new stake in Snowflake during the third quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the fourth quarter valued at $29,000. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Snowflake during the fourth quarter valued at $38,000. Finally, Geneos Wealth Management Inc. raised its stake in Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNOW. Evercore ISI upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Rosenblatt Securities boosted their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Performance

SNOW stock opened at $156.41 on Friday. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of -46.14 and a beta of 1.07. The firm has a 50-day simple moving average of $173.24 and a two-hundred day simple moving average of $147.87. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 3,029 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total value of $517,959.00. Following the completion of the transaction, the executive vice president now directly owns 684,639 shares of the company’s stock, valued at $117,073,269. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares of the company’s stock, valued at $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is currently owned by insiders.

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.