Stephens Inc. AR Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Stephens Inc. AR trimmed its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 17.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,683 shares of the company’s stock after selling 566 shares during the quarter. Stephens Inc. AR’s holdings in Snowflake were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Covestor Ltd increased its position in shares of Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after acquiring an additional 70 shares during the last quarter. Modus Advisors LLC increased its position in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the last quarter. Iron Gate Global Advisors LLC increased its position in Snowflake by 0.9% in the first quarter. Iron Gate Global Advisors LLC now owns 11,666 shares of the company’s stock worth $1,878,000 after buying an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Snowflake by 30.3% in the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after buying an additional 108 shares during the last quarter. Finally, Catalyst Private Wealth LLC increased its position in Snowflake by 3.6% in the second quarter. Catalyst Private Wealth LLC now owns 3,225 shares of the company’s stock worth $436,000 after buying an additional 111 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 1.7 %

NYSE SNOW opened at $123.49 on Friday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a 50-day moving average of $114.83 and a 200-day moving average of $129.88. The firm has a market cap of $41.39 billion, a PE ratio of -40.61 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the company posted ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, equities research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent research reports. Monness Crespi & Hardt raised Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday. TD Cowen decreased their target price on Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Bank of America decreased their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Argus began coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Jefferies Financial Group reduced their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.17.

About Snowflake

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.