Snowflake Inc. (NYSE:SNOW) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 5.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,654 shares of the company’s stock after selling 154 shares during the period. Frank Rimerman Advisors LLC’s holdings in Snowflake were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. State Street Corp raised its holdings in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC raised its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $156.41 on Monday. The stock has a market cap of $51.63 billion, a P/E ratio of -46.14 and a beta of 1.07. The company has a fifty day simple moving average of $173.24 and a 200-day simple moving average of $148.35. 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNOW shares. Stifel Nicolaus raised their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Canaccord Genuity Group raised their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Scotiabank raised their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the sale, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $517,959.00. Following the sale, the executive vice president now owns 684,639 shares in the company, valued at $117,073,269. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 297,391 shares of company stock worth $50,053,371 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

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.