Snowflake Inc. (NYSE:SNOW) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 9.7% during the third quarter, HoldingsChannel reports. The fund owned 3,465 shares of the company’s stock after selling 374 shares during the period. Tradition Wealth Management LLC’s holdings in Snowflake were worth $398,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board increased its holdings in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after acquiring an additional 223,936 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Snowflake by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock worth $222,344,000 after acquiring an additional 51,366 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Snowflake by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after acquiring an additional 8,743 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock worth $32,004,752 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on SNOW shares. UBS Group decreased their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Canaccord Genuity Group lowered their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Trading Up 0.6 %

Shares of Snowflake stock opened at $174.80 on Monday. The company has a fifty day moving average price of $126.17 and a 200 day moving average price of $128.27. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market cap of $58.59 billion, a price-to-earnings ratio of -51.56 and a beta of 0.83.

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.