Spire Wealth Management Sells 314 Shares of Snowflake Inc. (NYSE:SNOW)

Spire Wealth Management lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 26.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 853 shares of the company’s stock after selling 314 shares during the period. Spire Wealth Management’s holdings in Snowflake were worth $132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new stake in shares of Snowflake during the fourth quarter worth $288,000. Independent Advisor Alliance grew its stake in shares of Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the fourth quarter worth $5,851,000. Finally, Franklin Resources Inc. grew its stake in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after buying an additional 7,373 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 over the last three months. 7.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNOW has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler lifted their price target on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Snowflake Trading Down 1.3 %

Shares of SNOW stock opened at $183.87 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50-day simple moving average of $170.61 and a two-hundred day simple moving average of $139.19. The company has a market capitalization of $60.70 billion, a price-to-earnings ratio of -54.24 and a beta of 1.07.

Snowflake Company 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.