Inspire Investing LLC Reduces Stake in Snowflake Inc. (NYSE:SNOW)

Inspire Investing LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,674 shares of the company’s stock after selling 800 shares during the period. Inspire Investing LLC’s holdings in Snowflake were worth $258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Groupama Asset Managment purchased a new stake in shares of Snowflake in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the 3rd quarter valued at about $34,000. Perkins Coie Trust Co increased its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the period. Finally, Larson Financial Group LLC increased its stake in Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of Snowflake stock opened at $187.89 on Wednesday. The firm has a market cap of $62.02 billion, a PE ratio of -55.42 and a beta of 1.05. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50 day moving average of $166.79 and a 200 day moving average of $136.37. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Monness Crespi & Hardt lifted their price target on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Piper Sandler boosted their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Friday, January 10th. Finally, Bank of America boosted their target price on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity

In other news, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock valued at $84,973,139 in the last ninety days. Insiders own 7.80% of the company’s stock.

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.