Means Investment CO. Inc. Sells 6,259 Shares of Snowflake Inc. (NYSE:SNOW)

Means Investment CO. Inc. cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 48.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,571 shares of the company’s stock after selling 6,259 shares during the quarter. Means Investment CO. Inc.’s holdings in Snowflake were worth $1,015,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Asset Dedication LLC raised its holdings in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group raised its stake in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 90 shares during the last quarter. Modus Advisors LLC grew its stake in shares of Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares in the last quarter. Finally, Catalyst Private Wealth LLC increased its holdings in Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares of the company’s stock, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is currently owned by insiders.

Snowflake Price Performance

SNOW stock opened at $181.66 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $169.48 and a 200 day simple moving average of $137.70. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNOW shares. Oppenheimer increased their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Truist Financial reiterated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Friday, January 10th. Finally, Citigroup dropped their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.06.

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.