Snowflake Inc. (NYSE:SNOW) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 22.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,487 shares of the company’s stock after selling 1,017 shares during the quarter. Sigma Planning Corp’s holdings in Snowflake were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SNOW. LRI Investments LLC grew its stake in Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC bought a new position in Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake in the second quarter worth $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now owns 208,735 shares in the company, valued at $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Piper Sandler restated an “overweight” rating and issued a $165.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Wells Fargo & Company cut their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley restated an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Finally, Canaccord Genuity Group dropped their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake Price Performance

SNOW stock opened at $125.92 on Friday. The firm has a market capitalization of $42.21 billion, a P/E ratio of -41.15 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company’s 50 day simple moving average is $116.73 and its 200-day simple moving average is $128.68.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) 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 prior year, the company earned ($0.52) earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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.