Sequoia Financial Advisors LLC Sells 2,510 Shares of Snowflake Inc. (NYSE:SNOW)

Sequoia Financial Advisors LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 42.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,417 shares of the company’s stock after selling 2,510 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Snowflake were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new stake in Snowflake in the 4th quarter worth $288,000. Independent Advisor Alliance increased its position in shares of Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $5,851,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNOW. Oppenheimer boosted their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Scotiabank upped their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Bank of America upped their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Loop Capital lifted their target price on shares of Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the sale, the executive vice president now owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction 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 approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 287,648 shares of company stock worth $48,387,318 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW opened at $156.39 on Tuesday. The company’s 50-day simple moving average is $173.11 and its two-hundred day simple moving average is $148.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $51.62 billion, a P/E ratio of -46.13 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

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.