B. Riley Wealth Advisors Inc. Sells 15,445 Shares of Snowflake Inc. (NYSE:SNOW)

B. Riley Wealth Advisors Inc. trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 73.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,527 shares of the company’s stock after selling 15,445 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Snowflake were worth $747,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Accent Capital Management LLC bought a new stake in Snowflake during the 4th quarter valued at about $25,000. LRI Investments LLC raised its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Snowflake in the 2nd quarter valued at approximately $27,000. Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Snowflake in the 1st quarter worth $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Citigroup dropped their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. DA Davidson restated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday. Finally, HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their target price for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. 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. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $174.74.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction 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 owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,538 shares of company stock worth $3,449,994. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Up 3.8 %

Shares of NYSE:SNOW opened at $114.69 on Friday. The firm has a fifty day simple moving average of $117.12 and a two-hundred day simple moving average of $136.09. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The stock has a market capitalization of $38.40 billion, a P/E ratio of -40.96 and a beta of 0.83.

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

About Snowflake

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.