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

Quest Partners LLC trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 91.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 488 shares of the company’s stock after selling 4,917 shares during the quarter. Quest Partners LLC’s holdings in Snowflake were worth $56,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its position in Snowflake by 17.2% during the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares during the period. Cetera Investment Advisers boosted its stake in Snowflake by 201.5% during the first quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after buying an additional 42,563 shares during the period. Fulton Bank N.A. increased its position in Snowflake by 17.4% during the second quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock valued at $208,000 after acquiring an additional 228 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Snowflake by 77.0% in the second quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock valued at $17,992,000 after acquiring an additional 57,960 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Snowflake by 223.6% in the 2nd quarter. Mather Group LLC. now owns 906 shares of the company’s stock worth $122,000 after acquiring an additional 626 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Up 0.6 %

NYSE:SNOW opened at $174.80 on Friday. The stock has a market capitalization of $58.59 billion, a price-to-earnings ratio of -51.56 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50 day moving average of $126.17 and a 200 day moving average of $128.52.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,661 shares of company stock valued at $32,004,752. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SNOW shares. Argus initiated coverage on shares of Snowflake in a report on Tuesday, October 1st. They set a “hold” rating on the stock. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Evercore ISI raised their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Loop Capital cut their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, KeyCorp lifted their target price on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.09.

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.