Procyon Advisors LLC Purchases 859 Shares of Snowflake Inc. (NYSE:SNOW)

Procyon Advisors LLC raised its position in Snowflake Inc. (NYSE:SNOW) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,031 shares of the company’s stock after purchasing an additional 859 shares during the period. Procyon Advisors LLC’s holdings in Snowflake were worth $578,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNOW. Syon Capital LLC bought a new position in Snowflake in the 4th quarter valued at $296,000. PNC Financial Services Group Inc. lifted its holdings in shares of Snowflake by 20.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,587 shares of the company’s stock worth $5,092,000 after acquiring an additional 4,428 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Snowflake during the 4th quarter worth $337,000. Mather Group LLC. bought a new stake in shares of Snowflake during the 1st quarter worth $45,000. Finally, MADDEN SECURITIES Corp bought a new stake in shares of Snowflake during the 1st quarter worth $996,000. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SNOW shares. Stifel Nicolaus dropped their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Snowflake in a report on Monday, July 1st. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Wells Fargo & Company dropped their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group decreased their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have given 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 a consensus price target of $174.74.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 218,246 shares in the company, 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 filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,049,994 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $122.79 on Wednesday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company’s 50-day moving average is $116.72 and its 200 day moving average is $133.80. The stock has a market capitalization of $41.11 billion, a P/E ratio of -43.85 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data 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 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 analyst estimates of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts anticipate that Snowflake Inc. will post -2.41 earnings per share 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.