Venture Visionary Partners LLC Cuts Position in Snowflake Inc. (NYSE:SNOW)

Venture Visionary Partners LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 24.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,698 shares of the company’s stock after selling 2,171 shares during the quarter. Venture Visionary Partners LLC’s holdings in Snowflake were worth $769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. LRI Investments LLC grew its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the 2nd quarter worth $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the 3rd quarter valued at about $30,000. Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Snowflake during the 1st quarter valued at about $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen dropped their price target on Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Needham & Company LLC decreased their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Snowflake Stock Down 3.4 %

SNOW opened at $115.51 on Wednesday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The business has a fifty day simple moving average of $116.35 and a 200-day simple moving average of $132.52. The firm has a market cap of $38.67 billion, a P/E ratio of -41.25 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results 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 return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the business posted ($0.52) earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction 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 directly owns 721,755 shares in the company, valued at $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frank Slootman sold 1,606 shares of Snowflake 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at $86,610,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,049,994 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Snowflake Company 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.