Rakuten Securities Inc. Sells 2,467 Shares of Snowflake Inc. (NYSE:SNOW)

Rakuten Securities Inc. lowered its position in shares of Snowflake Inc. (NYSE:SNOW) by 46.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,847 shares of the company’s stock after selling 2,467 shares during the period. Rakuten Securities Inc.’s holdings in Snowflake were worth $440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC grew its position in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares during the last quarter. Breakwater Capital Group grew its position in shares of Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock valued at $64,000 after buying an additional 74 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 90 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. UBS Group boosted their price objective on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Barclays boosted their price objective on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Piper Sandler boosted their price objective on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald boosted their price objective on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.92.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total value of $1,148,094.00. Following the sale, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 294,923 shares of company stock valued at $49,689,983. 7.80% of the stock is currently owned by insiders.

Snowflake Trading Up 1.5 %

NYSE SNOW opened at $149.75 on Wednesday. The stock’s 50-day simple moving average is $173.55 and its two-hundred day simple moving average is $147.55. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of -44.17 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.