Snowflake Inc. (NYSE:SNOW) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 33.5% in the first quarter, HoldingsChannel reports. The fund owned 272 shares of the company’s stock after selling 137 shares during the period. GAMMA Investing LLC’s holdings in Snowflake were worth $44,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the period. Sands Capital Management LLC boosted its position in Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after acquiring an additional 610,970 shares during the period. Norges Bank acquired a new position in Snowflake during the 4th quarter worth $838,455,000. 1832 Asset Management L.P. lifted its holdings in shares of Snowflake by 51.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock valued at $334,459,000 after buying an additional 573,400 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock valued at $231,481,000 after buying an additional 623,277 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity

In other news, CAO Emily Ho sold 6,500 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the transaction, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at approximately $5,712,995.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Emily Ho sold 6,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the completion of the sale, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 3,455 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $126.08, for a total value of $435,606.40. Following the sale, the director now owns 221,016 shares of the company’s stock, valued at approximately $27,865,697.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,147 shares of company stock valued at $6,686,742. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNOW. BNP Paribas upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Thursday, May 2nd. Scotiabank cut their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Oppenheimer restated an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. Redburn Atlantic restated a “sell” rating and issued a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price objective on shares of Snowflake in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.64.

Snowflake Price Performance

Shares of SNOW stock opened at $124.15 on Wednesday. The firm has a market cap of $41.57 billion, a P/E ratio of -44.36 and a beta of 0.85. The stock’s 50-day moving average is $147.15 and its two-hundred day moving average is $174.84. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to analyst estimates 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, research analysts expect that Snowflake Inc. will post -2.27 EPS for the current 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.