LGT Group Foundation Sells 18,448 Shares of Snowflake Inc. (NYSE:SNOW)

LGT Group Foundation trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 38.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,470 shares of the company’s stock after selling 18,448 shares during the period. LGT Group Foundation’s holdings in Snowflake were worth $4,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SNOW. Toronto Dominion Bank grew its holdings in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new position in Snowflake during the fourth quarter valued at approximately $288,000. Independent Advisor Alliance grew its holdings in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new position in Snowflake during the fourth quarter valued at approximately $5,851,000. 65.10% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 297,193 shares of company stock valued at $50,220,063 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNOW. Stifel Nicolaus upped their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Thursday, February 20th. Barclays upped their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC upped their price target on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald upped their price target on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

Shares of SNOW opened at $173.81 on Tuesday. The firm has a market capitalization of $57.37 billion, a PE ratio of -51.27 and a beta of 1.07. The company’s 50-day moving average is $173.43 and its 200-day moving average is $146.10. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.