Creative Planning Trims Stock Position in Snowflake Inc. (NYSE:SNOW)

Creative Planning decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,985 shares of the company’s stock after selling 9,150 shares during the quarter. Creative Planning’s holdings in Snowflake were worth $15,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. LRI Investments LLC raised its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the 2nd quarter worth about $27,000. Riverview Trust Co acquired a new position in shares of Snowflake in the 1st quarter valued at about $31,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Snowflake during the 1st quarter worth about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

SNOW stock opened at $119.58 on Tuesday. The stock’s fifty day moving average is $116.58 and its two-hundred day moving average is $132.79. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of -42.71 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

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. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the business posted ($0.52) EPS. Snowflake’s revenue was up 28.9% on a year-over-year basis. As a group, analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent research reports. Argus started coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Wells Fargo & Company decreased their price target on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Bank of America lowered their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Robert W. Baird reduced their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Finally, UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.74.

Insider Activity

In related news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,538 shares of company stock valued at $7,049,994. Insiders own 7.80% of the company’s stock.

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.