Red Wave Investments LLC Sells 500 Shares of Snowflake Inc. (NYSE:SNOW)

Red Wave Investments LLC lowered its stake in Snowflake Inc. (NYSE:SNOW) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,280 shares of the company’s stock after selling 500 shares during the period. Red Wave Investments LLC’s holdings in Snowflake were worth $506,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SNOW. Outfitter Financial LLC lifted its holdings in Snowflake by 3.2% in the 4th quarter. Outfitter Financial LLC now owns 6,365 shares of the company’s stock worth $983,000 after purchasing an additional 200 shares during the last quarter. Bray Capital Advisors bought a new position in shares of Snowflake in the fourth quarter valued at approximately $926,000. Prakash Investment Advisors LLC acquired a new stake in shares of Snowflake in the fourth quarter worth $480,000. Handelsbanken Fonder AB boosted its holdings in shares of Snowflake by 3.2% during the 4th quarter. Handelsbanken Fonder AB now owns 125,796 shares of the company’s stock worth $19,424,000 after buying an additional 3,923 shares during the period. Finally, Wealth Alliance grew its stake in Snowflake by 9.9% in the 4th quarter. Wealth Alliance now owns 2,221 shares of the company’s stock valued at $343,000 after buying an additional 200 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

NYSE SNOW opened at $177.79 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $235.66. The company has a 50 day moving average of $172.88 and a 200-day moving average of $143.76. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In related news, Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,582,896.10. This represents a 8.95 % decrease in their position. The sale was disclosed in a 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 dated Tuesday, February 4th. The shares were 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 owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 394,345 shares of company stock worth $67,286,835 in the last three months. Insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SNOW shares. Truist Financial reissued a “buy” rating and set a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Citigroup decreased their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note 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 research report on Thursday, November 21st. Loop Capital increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $192.89.

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.