Kovitz Investment Group Partners LLC Has $348,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

Kovitz Investment Group Partners LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 17.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,256 shares of the company’s stock after selling 470 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Snowflake were worth $348,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group lifted its position in Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after buying an additional 65 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings 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 in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after acquiring an additional 74 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays boosted their target price on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Citigroup raised their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of Snowflake from $215.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, KeyCorp lowered their target price on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given 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 a consensus price target of $200.28.

Insider Buying and Selling at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,342 shares of company stock valued at $61,578,513. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of Snowflake stock opened at $167.71 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. 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 firm has a market cap of $55.36 billion, a P/E ratio of -49.47 and a beta of 1.13. The firm’s 50-day simple moving average is $153.46 and its 200-day simple moving average is $156.96.

About Snowflake

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.