Watts Gwilliam & Co. LLC Sells 13,823 Shares of Snowflake Inc. (NYSE:SNOW)

Watts Gwilliam & Co. LLC decreased its stake in Snowflake Inc. (NYSE:SNOW) by 90.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410 shares of the company’s stock after selling 13,823 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Snowflake were worth $224,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SNOW. Acadian Asset Management LLC grew its holdings in shares of Snowflake by 190.2% in the 2nd quarter. Acadian Asset Management LLC now owns 8,652 shares of the company’s stock valued at $1,166,000 after acquiring an additional 5,671 shares in the last quarter. Andra AP fonden acquired a new position in Snowflake during the second quarter worth approximately $3,229,000. American Century Companies Inc. increased its position in Snowflake by 5.8% during the second quarter. American Century Companies Inc. now owns 707,397 shares of the company’s stock worth $95,562,000 after buying an additional 38,966 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Snowflake by 51.3% during the second quarter. Oppenheimer & Co. Inc. now owns 21,798 shares of the company’s stock worth $2,945,000 after buying an additional 7,389 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Snowflake by 1.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 230,590 shares of the company’s stock worth $31,121,000 after buying an additional 3,490 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SNOW shares. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Mizuho upped their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Bank of America upped their target price on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $187.11.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 76,692 shares of the 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 completion of the sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock worth $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Up 1.0 %

Shares of NYSE:SNOW opened at $162.65 on Friday. The company has a fifty day moving average of $156.42 and a 200-day moving average of $133.87. The company has a market capitalization of $53.69 billion, a PE ratio of -47.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

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.