Snowflake Inc. (NYSE:SNOW) Shares Sold by Albion Financial Group UT

Albion Financial Group UT lessened its position in Snowflake Inc. (NYSE:SNOW) by 27.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,733 shares of the company’s stock after selling 1,769 shares during the quarter. Albion Financial Group UT’s holdings in Snowflake were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Norges Bank purchased a new position in shares of Snowflake in the 4th quarter valued at $838,455,000. Vanguard Group Inc. grew its holdings in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake during the first quarter worth about $171,608,000. Trivest Advisors Ltd purchased a new stake in shares of Snowflake in the 4th quarter valued at about $173,747,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Snowflake in the 4th quarter valued at about $147,120,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE SNOW opened at $142.72 on Thursday. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72. The company has a market capitalization of $47.78 billion, a price-to-earnings ratio of -50.97 and a beta of 0.85. The business has a 50-day moving average of $145.22 and a 200-day moving average of $172.05.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Research analysts expect that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America reiterated a “neutral” rating and issued a $200.00 price objective on shares of Snowflake in a research note on Wednesday, June 12th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Thursday, May 2nd. Canaccord Genuity Group lowered their price target on Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. boosted their target price on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.46.

Insider Buying and Selling

In other Snowflake news, Director Michael L. Speiser bought 76,200 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the purchase, the director now directly owns 1,632,225 shares of the company’s stock, valued at $213,968,375.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser purchased 76,200 shares of Snowflake stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The disclosure for this purchase can be found here. Insiders have sold 519,112 shares of company stock valued at $64,932,073 in the last quarter. Company 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.