Kingfisher Capital LLC Has $1.47 Million Position in Snowflake Inc. (NYSE:SNOW)

Kingfisher Capital LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,815 shares of the company’s stock after selling 1,451 shares during the quarter. Kingfisher Capital LLC’s holdings in Snowflake were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in Snowflake by 6.6% during the third quarter. Rockefeller Capital Management L.P. now owns 150,327 shares of the company’s stock valued at $17,267,000 after acquiring an additional 9,327 shares in the last quarter. Spyglass Capital Management LLC increased its stake in shares of Snowflake by 24.2% during the 3rd quarter. Spyglass Capital Management LLC now owns 547,848 shares of the company’s stock worth $62,926,000 after purchasing an additional 106,616 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Snowflake by 27.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 9,384 shares of the company’s stock valued at $1,069,000 after purchasing an additional 1,996 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snowflake by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock valued at $222,344,000 after purchasing an additional 51,366 shares during the last quarter. Finally, Fiduciary Trust Co lifted its stake in shares of Snowflake by 59.7% in the 3rd quarter. Fiduciary Trust Co now owns 2,835 shares of the company’s stock valued at $326,000 after purchasing an additional 1,060 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock valued at $32,004,752 in the last ninety days. Insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Barclays upped their target price on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Robert W. Baird dropped their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $173.70 on Friday. The company’s fifty day moving average is $124.88 and its 200-day moving average is $128.64. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

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.