Hartline Investment Corp Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Hartline Investment Corp lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 75.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,227 shares of the company’s stock after selling 19,153 shares during the quarter. Hartline Investment Corp’s holdings in Snowflake were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SNOW. Groupama Asset Managment purchased a new stake in shares of Snowflake during the third quarter worth $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the third quarter worth $34,000. Finally, Perkins Coie Trust Co grew its stake in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 1.1 %

NYSE SNOW opened at $186.08 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50-day moving average price of $170.79 and a 200 day moving average price of $139.70.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the 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 transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 516,933 shares of company stock valued at $88,283,752. Corporate insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America boosted their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Scotiabank boosted their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Finally, Evercore ISI boosted their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.06.

Snowflake 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.