Oak Harbor Wealth Partners LLC Trims Position in Snowflake Inc. (NYSE:SNOW)

Oak Harbor Wealth Partners LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 36.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,137 shares of the company’s stock after selling 1,250 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Snowflake were worth $330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNOW. Janney Montgomery Scott LLC grew its stake in Snowflake by 13.9% in the third quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company’s stock worth $3,916,000 after purchasing an additional 4,168 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Snowflake by 33.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company’s stock worth $4,474,000 after purchasing an additional 9,743 shares during the period. Olympiad Research LP bought a new stake in Snowflake in the third quarter worth $255,000. Quantum Private Wealth LLC boosted its holdings in Snowflake by 35.3% in the third quarter. Quantum Private Wealth LLC now owns 14,003 shares of the company’s stock worth $1,608,000 after acquiring an additional 3,655 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in Snowflake by 7.9% in the third quarter. Washington Trust Advisors Inc. now owns 58,429 shares of the company’s stock worth $6,711,000 after acquiring an additional 4,268 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SNOW shares. Jefferies Financial Group boosted their target price on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. KeyCorp boosted their target price on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Piper Sandler upped their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Scotiabank upped their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Finally, Rosenblatt Securities upped their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,712 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00. Following the completion of the transaction, the director now directly owns 205,965 shares of the company’s stock, valued at approximately $36,867,735. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 297,193 shares of company stock valued at $50,096,313. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $158.54 on Friday. The stock has a 50 day moving average of $173.79 and a 200 day moving average of $146.90. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a market cap of $52.33 billion, a PE ratio of -46.77 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.