Stratos Wealth Advisors LLC Sells 983 Shares of Snowflake Inc. (NYSE:SNOW)

Stratos Wealth Advisors LLC lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 12.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,925 shares of the company’s stock after selling 983 shares during the period. Stratos Wealth Advisors LLC’s holdings in Snowflake were worth $1,069,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Groupama Asset Managment bought a new position in Snowflake during the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the third quarter valued at $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the third quarter valued at $34,000. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake in the 4th quarter worth about $38,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNOW. Piper Sandler lifted their target price on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Oppenheimer boosted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Loop Capital increased their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, TD Cowen upped their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the transaction, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by corporate insiders.

Snowflake Trading Down 1.5 %

Shares of SNOW stock opened at $186.16 on Friday. The stock has a fifty day simple moving average of $170.36 and a two-hundred day simple moving average of $138.86. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $61.45 billion, a PE ratio of -54.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.