Procyon Advisors LLC Decreases Stock Position in Snowflake Inc. (NYSE:SNOW)

Procyon Advisors LLC cut its position in Snowflake Inc. (NYSE:SNOW) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,519 shares of the company’s stock after selling 512 shares during the period. Procyon Advisors LLC’s holdings in Snowflake were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance boosted its position in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares during the last quarter. Franklin Resources Inc. grew its stake in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Diversified Trust Co raised its holdings in Snowflake by 174.8% in the 4th quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after acquiring an additional 3,121 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. purchased a new position in Snowflake in the 4th quarter worth approximately $240,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SNOW shares. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Evercore ISI raised their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Scotiabank boosted their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Monness Crespi & Hardt boosted their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

Shares of SNOW stock opened at $170.89 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05. The firm has a fifty day moving average price of $161.11 and a 200 day moving average price of $135.02.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now owns 346,741 shares in the company, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

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.