Snowflake Inc. (NYSE:SNOW) Stock Holdings Cut by Atria Investments Inc

Atria Investments Inc decreased its position in Snowflake Inc. (NYSE:SNOW) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,608 shares of the company’s stock after selling 119 shares during the quarter. Atria Investments Inc’s holdings in Snowflake were worth $759,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its position in shares of Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after purchasing an additional 295 shares in the last quarter. Covestor Ltd increased its holdings in shares of Snowflake by 25.0% in the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after acquiring an additional 2,191 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Snowflake by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Snowflake in the 1st quarter worth $454,000. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In related news, Director Frank Slootman sold 1,606 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 $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,538 shares of company stock valued at $7,061,544. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 1.2 %

Shares of NYSE:SNOW opened at $127.41 on Tuesday. The business has a 50 day moving average price of $117.08 and a 200 day moving average price of $128.09. The company has a market cap of $42.71 billion, a price-to-earnings ratio of -41.64 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the company posted ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. Analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNOW. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Stifel Nicolaus cut their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company decreased their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, Argus assumed coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.59.

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.