Wellington Management Group LLP Sells 6,614 Shares of Snowflake Inc. (NYSE:SNOW)

Wellington Management Group LLP reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 46.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,615 shares of the company’s stock after selling 6,614 shares during the quarter. Wellington Management Group LLP’s holdings in Snowflake were worth $875,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Modus Advisors LLC boosted its position in shares of Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its stake in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the period. LRI Investments LLC boosted its holdings in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Snowflake by 6.7% in the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Snowflake by 16.2% during the third quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after acquiring an additional 115 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SNOW. Barclays lifted their price target on shares of Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Argus started coverage on shares of Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. KeyCorp upped their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Scotiabank lifted their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Truist Financial reissued a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.46.

Snowflake Stock Up 1.0 %

Shares of NYSE SNOW opened at $164.21 on Friday. 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 has a market cap of $54.21 billion, a P/E ratio of -48.44 and a beta of 1.03. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The business has a 50-day simple moving average of $142.93 and a two-hundred day simple moving average of $130.46.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,901 shares of company stock valued at $48,375,520. 7.80% of the stock is currently owned by corporate insiders.

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.