Quadrant Private Wealth Management LLC Sells 2,787 Shares of Snowflake Inc. (NYSE:SNOW)

Quadrant Private Wealth Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 51,676 shares of the company’s stock after selling 2,787 shares during the quarter. Snowflake accounts for approximately 2.0% of Quadrant Private Wealth Management LLC’s portfolio, making the stock its 7th biggest position. Quadrant Private Wealth Management LLC’s holdings in Snowflake were worth $7,979,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the fourth quarter worth $29,000. Groupama Asset Managment bought a new stake in Snowflake during the third quarter valued at $25,000. Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% during the fourth 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. Geneos Wealth Management Inc. lifted its holdings in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 2.5 %

Shares of SNOW stock opened at $187.86 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 stock has a fifty day moving average price of $171.51 and a 200 day moving average price of $141.58. Snowflake Inc. has a one year low of $107.13 and a one year high of $236.33.

Insider Activity

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred 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 owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 516,933 shares of company stock worth $88,283,752. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial reissued a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. Monness Crespi & Hardt raised their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC lifted their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler lifted their price target on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.63.

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.