Albion Financial Group UT Lowers Position in Snowflake Inc. (NYSE:SNOW)

Albion Financial Group UT trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 27.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,733 shares of the company’s stock after selling 1,769 shares during the period. Albion Financial Group UT’s holdings in Snowflake were worth $765,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group boosted their target price on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. 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 report on Thursday, May 23rd. Scotiabank lowered their target price on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Macquarie cut their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Finally, KeyCorp lifted their price target on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.46.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total transaction of $70,608.72. Following the completion of the sale, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at approximately $97,829,157.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Snowflake news, insider Benoit Dageville sold 558 shares of the company’s 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 in the company, valued at $8,112,014.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the completion of the transaction, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The disclosure for this sale can be found here. Insiders sold 519,112 shares of company stock worth $64,932,073 in the last 90 days. 7.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

NYSE:SNOW opened at $142.72 on Thursday. The firm has a market capitalization of $47.78 billion, a price-to-earnings ratio of -50.97 and a beta of 0.85. The business has a 50 day simple moving average of $145.22 and a 200-day simple moving average of $172.05. Snowflake Inc. has a 1 year low of $122.60 and a 1 year high of $237.72.

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

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.