Tradition Wealth Management LLC Lowers Stake in Snowflake Inc. (NYSE:SNOW)

Tradition Wealth Management LLC lessened its position in Snowflake Inc. (NYSE:SNOW) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,161 shares of the company’s stock after selling 304 shares during the quarter. Tradition Wealth Management LLC’s holdings in Snowflake were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its stake in Snowflake by 47.4% in the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock worth $1,438,000 after buying an additional 3,971 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Snowflake by 50.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock valued at $535,000 after purchasing an additional 1,559 shares during the last quarter. Blankinship & Foster LLC bought a new stake in Snowflake in the third quarter worth $896,000. Synovus Financial Corp boosted its position in Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock valued at $698,000 after buying an additional 1,352 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after buying an additional 7,373 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,589 shares of company stock valued at $82,405,796 over the last three months. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Citigroup raised their price target on Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Wells Fargo & Company upped their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Stifel Nicolaus raised their target price on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Truist Financial lowered their price target on Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Snowflake Price Performance

NYSE SNOW opened at $143.34 on Monday. 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 company has a market capitalization of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13. The stock has a 50-day moving average of $159.07 and a 200 day moving average of $154.97. Snowflake Inc. has a one year low of $107.13 and a one year high of $194.40.

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.