Snowflake Inc. (NYSE:SNOW) Shares Sold by WD Rutherford LLC

WD Rutherford LLC lowered its stake in Snowflake Inc. (NYSE:SNOW) by 28.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,168 shares of the company’s stock after selling 4,798 shares during the quarter. WD Rutherford LLC’s holdings in Snowflake were worth $1,879,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $218,000. Principal Securities Inc. increased its position in shares of Snowflake by 50.2% during the fourth quarter. Principal Securities Inc. now owns 7,418 shares of the company’s stock worth $1,145,000 after purchasing an additional 2,478 shares in the last quarter. Quantum Private Wealth LLC increased its position in shares of Snowflake by 11.7% during the fourth quarter. Quantum Private Wealth LLC now owns 15,644 shares of the company’s stock worth $2,416,000 after purchasing an additional 1,641 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in Snowflake in the 4th quarter valued at $293,000. Finally, bLong Financial LLC acquired a new stake in Snowflake during the 4th quarter worth $337,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 2.5 %

SNOW stock opened at $187.86 on Friday. The company’s 50 day moving average price is $171.51 and its 200 day moving average price is $141.67. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $236.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNOW. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. KeyCorp boosted their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Oppenheimer increased their price target on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Scotiabank upped their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.63.

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the transaction, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,933 shares of company stock valued at $88,283,752. Insiders own 7.80% of the company’s stock.

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.