Aviance Capital Partners LLC Buys Shares of 6,500 Snowflake Inc. (NYSE:SNOW)

Aviance Capital Partners LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the first quarter, Holdings Channel.com reports. The firm purchased 6,500 shares of the company’s stock, valued at approximately $1,050,000.

Several other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC bought a new position in Snowflake during the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC lifted its holdings in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares during the last quarter. Riverview Trust Co bought a new stake in Snowflake during the first quarter worth approximately $31,000. M&R Capital Management Inc. grew its holdings in Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Snowflake in the first quarter valued at approximately $32,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Trading Up 5.7 %

Shares of SNOW opened at $142.74 on Tuesday. The business’s fifty day moving average price is $145.65 and its two-hundred day moving average price is $172.66. Snowflake Inc. has a 52 week low of $122.60 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Research analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Mizuho dropped their price objective on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Wells Fargo & Company dropped their price target on Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Bank of America restated a “neutral” rating and issued a $200.00 price objective on shares of Snowflake in a research note on Wednesday, June 12th. Three equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.46.

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 558 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders sold a total of 519,112 shares of company stock worth $64,932,073 in the last quarter. 7.80% of the stock is owned by company 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.