Washington Trust Advisors Inc. Sells 767 Shares of Snowflake Inc. (NYSE:SNOW)

Washington Trust Advisors Inc. reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,662 shares of the company’s stock after selling 767 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Snowflake were worth $8,904,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SNOW. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance boosted its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in Snowflake in the 4th quarter worth approximately $5,851,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 6,714 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now owns 196,454 shares of the company’s stock, valued at $33,593,634. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,193 shares of company stock valued at $50,096,313. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SNOW shares. Stifel Nicolaus upped their price target on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Needham & Company LLC upped their price target on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

SNOW opened at $177.66 on Thursday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. 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 business’s fifty day simple moving average is $173.94 and its 200-day simple moving average is $146.64. The company has a market capitalization of $58.65 billion, a price-to-earnings ratio of -52.41 and a beta of 1.07.

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.