Frank Rimerman Advisors LLC Lowers Holdings in Snowflake Inc. (NYSE:SNOW)

Frank Rimerman Advisors LLC decreased its position in Snowflake Inc. (NYSE:SNOW) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,654 shares of the company’s stock after selling 154 shares during the period. Frank Rimerman Advisors LLC’s holdings in Snowflake were worth $410,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Asset Dedication LLC lifted its holdings in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after buying an additional 59 shares during the period. Breakwater Capital Group lifted its holdings in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after buying an additional 69 shares during the period. Larson Financial Group LLC lifted its holdings in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after buying an additional 74 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $225.00 target price (up previously from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Jefferies Financial Group upped their target price on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Royal Bank of Canada upped their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now directly owns 622,611 shares in the company, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 297,391 shares of company stock valued at $50,053,371 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 4.4 %

SNOW stock opened at $156.41 on Monday. The company’s 50-day simple moving average is $173.24 and its 200-day simple moving average is $148.35. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market cap of $51.63 billion, a P/E ratio of -46.14 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.