Inspire Investing LLC Has $263,000 Stake in Snowflake Inc. (NYSE:SNOW)

Inspire Investing LLC lowered its position in Snowflake Inc. (NYSE:SNOW) by 28.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,944 shares of the company’s stock after selling 785 shares during the period. Inspire Investing LLC’s holdings in Snowflake were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Snowflake during the 2nd quarter worth $3,772,000. SkyOak Wealth LLC increased its position in Snowflake by 30.7% during the second quarter. SkyOak Wealth LLC now owns 4,255 shares of the company’s stock worth $575,000 after buying an additional 1,000 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in Snowflake by 7.9% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,599 shares of the company’s stock worth $3,728,000 after buying an additional 2,024 shares during the last quarter. Blair William & Co. IL raised its holdings in Snowflake by 2.3% during the second quarter. Blair William & Co. IL now owns 39,095 shares of the company’s stock valued at $5,281,000 after buying an additional 889 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership lifted its position in shares of Snowflake by 228.6% in the second quarter. Elkhorn Partners Limited Partnership now owns 4,600 shares of the company’s stock worth $621,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 0.5 %

Shares of Snowflake stock opened at $112.68 on Wednesday. The stock has a market capitalization of $37.73 billion, a P/E ratio of -40.24 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The company has a 50-day simple moving average of $120.46 and a 200 day simple moving average of $138.78.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company 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%. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. On average, equities analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SNOW shares. Royal Bank of Canada cut their price objective on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Robert W. Baird dropped their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Canaccord Genuity Group lowered their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $220.00 target price on shares of Snowflake in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.17.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s 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 $2,144,700.00. Following the completion of the transaction, the executive vice president now owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,386 shares of company stock valued at $5,715,941. 7.80% of the stock is currently owned by corporate 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.