Snowflake Inc. (NYSE:SNOW) Shares Sold by Hartline Investment Corp

Hartline Investment Corp decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 75.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,227 shares of the company’s stock after selling 19,153 shares during the quarter. Hartline Investment Corp’s holdings in Snowflake were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $29,000. Essex Financial Services Inc. acquired a new stake in shares of Snowflake in the 4th quarter worth $248,000. Powell Investment Advisors LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $202,000. Sycomore Asset Management boosted its position in shares of Snowflake by 13.7% in the 4th quarter. Sycomore Asset Management now owns 63,637 shares of the company’s stock worth $9,826,000 after purchasing an additional 7,684 shares in the last quarter. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Snowflake in the 4th quarter worth $154,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SNOW shares. Loop Capital raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Piper Sandler raised their target price on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Friday, January 10th. Oppenheimer raised their target price on Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Cantor Fitzgerald initiated coverage on Snowflake in a research note on Friday, January 17th. They issued an “overweight” rating and a $201.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Snowflake Stock Up 1.1 %

Shares of Snowflake stock opened at $186.08 on Tuesday. The stock’s 50 day simple moving average is $170.79 and its 200-day simple moving average is $139.70. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 516,933 shares of company stock worth $88,283,752. Insiders own 7.80% of the company’s stock.

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.