Beacon Financial Group Sells 130 Shares of Snowflake Inc. (NYSE:SNOW)

Beacon Financial Group decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,705 shares of the company’s stock after selling 130 shares during the period. Beacon Financial Group’s holdings in Snowflake were worth $263,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Groupama Asset Managment bought a new position in Snowflake during the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the third quarter valued at about $30,000. Fortitude Family Office LLC purchased a new position in Snowflake during the third quarter worth about $34,000. Finally, Perkins Coie Trust Co grew its position in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada lifted their price target on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Evercore ISI lifted their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.63.

Snowflake Stock Up 2.2 %

Snowflake stock opened at $187.56 on Thursday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $236.33. The business has a 50-day simple moving average of $171.21 and a 200 day simple moving average of $140.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is currently owned by 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.