Advisory Services Network LLC Has $398,000 Stake in Snowflake Inc. (NYSE:SNOW)

Advisory Services Network LLC lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 66.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,580 shares of the company’s stock after selling 5,007 shares during the period. Advisory Services Network LLC’s holdings in Snowflake were worth $398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter valued at about $988,950,000. GQG Partners LLC acquired a new stake in Snowflake during the fourth quarter valued at approximately $750,572,000. Jennison Associates LLC grew its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. FMR LLC raised its holdings in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after buying an additional 1,999,785 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 0.3 %

SNOW opened at $146.05 on Thursday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The firm has a market cap of $48.21 billion, a PE ratio of -43.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm’s fifty day moving average is $160.73 and its two-hundred day moving average is $153.93.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SNOW. Wells Fargo & Company upped their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Truist Financial cut their price target on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, KeyCorp lifted their target price on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.51.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock worth $82,405,796 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

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.