Tradition Wealth Management LLC Sells 304 Shares of Snowflake Inc. (NYSE:SNOW)

Tradition Wealth Management LLC cut its position in Snowflake Inc. (NYSE:SNOW) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,161 shares of the company’s stock after selling 304 shares during the period. Tradition Wealth Management LLC’s holdings in Snowflake were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC lifted its holdings in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co grew its holdings in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research analyst reports. Piper Sandler raised their price objective on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. DA Davidson reduced their target price on shares of Snowflake from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Bank of America raised their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $183.00 price target on shares of Snowflake in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Snowflake Price Performance

NYSE:SNOW opened at $143.34 on Monday. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13. 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 has a 50 day moving average price of $159.07 and a 200-day moving average price of $154.97. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Activity

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated 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 sale, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock worth $82,405,796 in the last ninety days. Company insiders own 7.80% of the company’s stock.

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.