Los Angeles Capital Management LLC Sells 154,367 Shares of Snowflake Inc. (NYSE:SNOW)

Los Angeles Capital Management LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 89.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,367 shares of the company’s stock after selling 154,367 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Snowflake were worth $2,968,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cigna Investments Inc. New raised its holdings in Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP boosted its holdings in Snowflake by 3.0% in the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the period. Commerce Bank grew its position in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in Snowflake by 18.1% in the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other Snowflake news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Snowflake news, Director Michael L. Speiser acquired 76,200 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $131.09 per share, with a total value of $9,989,058.00. Following the completion of the transaction, the director now owns 1,632,225 shares in the company, valued at $213,968,375.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold 39,862 shares of company stock valued at $5,895,712 over the last three months. 7.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

NYSE SNOW opened at $127.84 on Friday. The company has a 50 day simple moving average of $147.69 and a 200-day simple moving average of $175.42. Snowflake Inc. has a 52-week low of $124.69 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Research analysts predict that Snowflake Inc. will post -2.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on SNOW shares. Piper Sandler reissued an “overweight” rating and issued a $240.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Scotiabank cut their price target on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. Wells Fargo & Company dropped their price objective on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup dropped their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Sanford C. Bernstein upped their price objective on shares of Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Three 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 stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $198.64.

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.