FourThought Financial Partners LLC Reduces Stock Position in Snowflake Inc. (NYSE:SNOW)

FourThought Financial Partners LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,957 shares of the company’s stock after selling 143 shares during the period. FourThought Financial Partners LLC’s holdings in Snowflake were worth $2,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Snowflake during the third quarter worth about $226,302,000. Vanguard Group Inc. increased its stake in shares of Snowflake by 4.0% during the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock valued at $2,968,152,000 after purchasing an additional 743,211 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Snowflake by 69.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after buying an additional 623,277 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Snowflake by 19,321.5% during the fourth quarter. International Assets Investment Management LLC now owns 508,843 shares of the company’s stock valued at $101,260,000 after buying an additional 506,223 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The disclosure for this sale can be found here. Insiders have sold a total of 168,458 shares of company stock valued at $33,785,640 over the last quarter. 8.30% of the stock is owned by corporate insiders.

Snowflake Stock Up 1.0 %

Shares of SNOW stock traded up $1.55 on Friday, hitting $159.32. The stock had a trading volume of 3,660,233 shares, compared to its average volume of 4,335,201. The business has a 50 day moving average price of $163.20 and a 200 day moving average price of $178.80. Snowflake Inc. has a one year low of $138.40 and a one year high of $237.72. The company has a market cap of $53.24 billion, a PE ratio of -62.48 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Equities research analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price target on shares of Snowflake in a report on Thursday, February 29th. Evercore ISI decreased their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Oppenheimer decreased their price objective on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.77.

About Snowflake

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.