Wealthspire Advisors LLC Has $1.48 Million Position in Snowflake Inc. (NYSE:SNOW)

Wealthspire Advisors LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 9.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,562 shares of the company’s stock after buying an additional 791 shares during the quarter. Wealthspire Advisors LLC’s holdings in Snowflake were worth $1,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake during the fourth quarter worth about $29,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth about $34,000. Perkins Coie Trust Co grew its position in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the 4th quarter valued at about $38,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 4.0 %

Snowflake stock opened at $170.78 on Tuesday. 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 company’s 50-day moving average is $172.85 and its 200-day moving average is $144.51. The firm has a market capitalization of $56.38 billion, a PE ratio of -50.38 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $235.66.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,810 shares of company stock worth $63,340,544. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNOW shares. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday, February 20th. Citigroup decreased their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Friday, January 10th. JMP Securities reissued a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Finally, KeyCorp raised their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $193.43.

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.