ICA Group Wealth Management LLC Sells 2,288 Shares of Snowflake Inc. (NYSE:SNOW)

ICA Group Wealth Management LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 78.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 615 shares of the company’s stock after selling 2,288 shares during the period. ICA Group Wealth Management LLC’s holdings in Snowflake were worth $83,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $838,455,000. Swedbank AB bought a new position in Snowflake in the 1st quarter worth about $258,957,000. Vanguard Group Inc. increased its holdings in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Snowflake in the first quarter worth $171,608,000. Finally, Cibc World Markets Corp bought a new stake in shares of Snowflake during the 4th quarter valued at about $147,120,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Wedbush reduced their price objective on Snowflake from $210.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Stifel Nicolaus cut their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Oppenheimer reissued an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a research report on Thursday, May 23rd. Royal Bank of Canada cut their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Robert W. Baird cut their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Trading Up 0.6 %

NYSE:SNOW opened at $113.67 on Monday. The company has a 50-day moving average of $123.48 and a 200-day moving average of $141.48. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a market cap of $38.10 billion, a price-to-earnings ratio of -40.60 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.52) EPS. On average, research analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 512,262 shares of company stock worth $63,340,261. 7.80% of the stock is currently owned by 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.