Snowflake Inc. (NYSE:SNOW) Shares Sold by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC reduced its holdings in Snowflake Inc. (NYSE:SNOW) by 59.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,180 shares of the company’s stock after selling 19,216 shares during the period. Wealth Advisory Solutions LLC’s holdings in Snowflake were worth $1,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SNOW. Park Avenue Securities LLC lifted its stake in Snowflake by 0.5% during the first quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock worth $2,179,000 after purchasing an additional 70 shares in the last quarter. Covestor Ltd raised its holdings in shares of Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares during the last quarter. IAM Advisory LLC lifted its position in Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after acquiring an additional 74 shares during the period. Joseph P. Lucia & Associates LLC raised its position in Snowflake by 2.6% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after buying an additional 75 shares during the last quarter. Finally, Modus Advisors LLC lifted its position in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW traded down $1.37 during midday trading on Monday, hitting $118.17. The company’s stock had a trading volume of 877,926 shares, compared to its average volume of 6,619,914. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm’s 50 day moving average is $116.65 and its 200-day moving average is $133.01. The firm has a market cap of $39.56 billion, a P/E ratio of -42.36 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.52) earnings per share. As a group, analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Robert W. Baird decreased their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Needham & Company LLC dropped their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.74.

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.