Evoke Wealth LLC Lowers Holdings in Snowflake Inc. (NYSE:SNOW)

Evoke Wealth LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 25,331 shares of the company’s stock after selling 664 shares during the period. Evoke Wealth LLC’s holdings in Snowflake were worth $3,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC boosted its stake in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares during the period. Breakwater Capital Group raised its holdings 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 acquiring an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Snowflake by 0.6% during 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 acquiring an additional 69 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after purchasing an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,648 shares of company stock worth $48,387,318. Company insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $156.39 on Tuesday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market capitalization of $51.62 billion, a P/E ratio of -46.13 and a beta of 1.07. The company’s 50-day moving average is $173.11 and its 200 day moving average is $148.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SNOW shares. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Needham & Company LLC raised their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $225.00 target price (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Finally, KeyCorp lifted their price target on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.92.

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.