Blue Trust Inc. Sells 384 Shares of Snowflake Inc. (NYSE:SNOW)

Blue Trust Inc. lessened its position in Snowflake Inc. (NYSE:SNOW) by 27.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,023 shares of the company’s stock after selling 384 shares during the period. Blue Trust Inc.’s holdings in Snowflake were worth $158,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SNOW. Jennison Associates LLC lifted its holdings in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Snowflake by 19,399.2% during 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 purchasing an additional 2,559,144 shares during the period. Two Sigma Advisers LP raised its stake in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. International Assets Investment Management LLC raised its stake in shares of Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock valued at $60,977,000 after purchasing an additional 526,608 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Snowflake by 96.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,045,409 shares of the company’s stock valued at $120,076,000 after purchasing an additional 513,214 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE SNOW opened at $185.35 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $235.66. The firm has a market capitalization of $61.18 billion, a P/E ratio of -54.68 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $172.68 and a 200-day moving average price of $143.31.

Insider Activity

In related news, CAO Emily Ho sold 2,021 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 20,514 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 394,345 shares of company stock valued at $67,286,835 in the last quarter. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Loop Capital boosted their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Scotiabank upped their price objective on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Cantor Fitzgerald assumed coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price for the company. Piper Sandler increased their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, TD Cowen upped their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.08.

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.