Sands Capital Ventures LLC Sells 107,311 Shares of Snowflake Inc. (NYSE:SNOW)

Sands Capital Ventures LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 49.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,304 shares of the company’s stock after selling 107,311 shares during the quarter. Snowflake makes up about 4.9% of Sands Capital Ventures LLC’s investment portfolio, making the stock its 5th biggest holding. Sands Capital Ventures LLC’s holdings in Snowflake were worth $14,631,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Commerce Bank boosted its holdings in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after purchasing an additional 51 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Snowflake by 0.5% in the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after buying an additional 70 shares during the period. Covestor Ltd grew its position in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares during the last quarter. IAM Advisory LLC raised its stake in Snowflake by 2.0% during the first quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after acquiring an additional 74 shares during the period. Finally, Joseph P. Lucia & Associates LLC lifted its holdings in Snowflake by 2.6% in the first quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 517,203 shares of company stock valued at $63,833,373. Company insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNOW. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. UBS Group decreased their price target on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. DA Davidson reduced their price objective on Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, JMP Securities cut their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Stock Down 3.3 %

Shares of NYSE:SNOW opened at $110.26 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company’s 50-day moving average price is $120.87 and its two-hundred day moving average price is $139.56. The firm has a market cap of $36.96 billion, a P/E ratio of -39.38 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the company posted ($0.52) EPS. The company’s revenue was up 28.9% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current fiscal 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.