Perigon Wealth Management LLC Cuts Stake in Snowflake Inc. (NYSE:SNOW)

Perigon Wealth Management LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 35.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,014 shares of the company’s stock after selling 3,889 shares during the quarter. Perigon Wealth Management LLC’s holdings in Snowflake were worth $1,176,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in Snowflake by 71.2% during the second quarter. ProShare Advisors LLC now owns 2,438 shares of the company’s stock valued at $329,000 after buying an additional 1,014 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Snowflake by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,182 shares of the company’s stock valued at $4,482,000 after acquiring an additional 146 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Snowflake by 42.5% in the second quarter. NewEdge Advisors LLC now owns 13,800 shares of the company’s stock valued at $1,864,000 after purchasing an additional 4,116 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Snowflake during the second quarter valued at $201,000. Finally, Cetera Investment Advisers lifted its position in Snowflake by 8.0% during the second quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock valued at $9,294,000 after purchasing an additional 5,112 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 504,151 shares of company stock valued at $84,973,139. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW stock opened at $179.42 on Friday. The firm has a market capitalization of $59.23 billion, a price-to-earnings ratio of -52.93 and a beta of 1.05. 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’s 50-day simple moving average is $169.02 and its 200-day simple moving average is $137.06. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. Truist Financial reiterated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI raised their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, KeyCorp upped their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Company 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.