Snowflake Inc. (NYSE:SNOW) Shares Sold by Sciencast Management LP

Sciencast Management LP reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 38.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,830 shares of the company’s stock after selling 1,139 shares during the quarter. Sciencast Management LP’s holdings in Snowflake were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $25,000. Riverview Trust Co acquired a new position in Snowflake during the first quarter worth approximately $31,000. Hartford Financial Management Inc. purchased a new stake in Snowflake in the first quarter valued at approximately $32,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC grew its position in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Macquarie reduced their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Robert W. Baird decreased their target price on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Redburn Atlantic restated a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Scotiabank reduced their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $220.00 target price on shares of Snowflake in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.31.

Insider Activity at Snowflake

In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Teresa Briggs sold 848 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. In the last three months, insiders sold 534,960 shares of company stock valued at $67,198,020. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock traded down $2.43 during trading on Friday, reaching $135.75. The company had a trading volume of 8,103,603 shares, compared to its average volume of 6,570,266. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of -48.48 and a beta of 0.85. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72. The stock’s 50 day moving average price is $142.81 and its two-hundred day moving average price is $169.43.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. As a group, research analysts expect that Snowflake Inc. will post -2.28 earnings per share for the current year.

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.