Snowflake Inc. (NYSE:SNOW) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 10.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,519 shares of the company’s stock after selling 512 shares during the period. Procyon Advisors LLC’s holdings in Snowflake were worth $698,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake in the third quarter valued at about $34,000. Larson Financial Group LLC increased its stake in shares of Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares during the period. Finally, Waldron Private Wealth LLC purchased a new position in Snowflake during the third quarter worth about $40,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Up 1.9 %

Shares of SNOW opened at $170.89 on Friday. The firm has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. 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’s fifty day moving average is $161.11 and its two-hundred day moving average is $135.02. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNOW shares. Evercore ISI lifted their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler increased their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JMP Securities restated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by company insiders.

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.