Wedmont Private Capital Sells 183 Shares of Snowflake Inc. (NYSE:SNOW)

Wedmont Private Capital cut its stake in Snowflake Inc. (NYSE:SNOW) by 5.5% in the third quarter, HoldingsChannel.com reports. The fund owned 3,151 shares of the company’s stock after selling 183 shares during the period. Wedmont Private Capital’s holdings in Snowflake were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Park Avenue Securities LLC grew its position 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 purchasing an additional 70 shares during the period. Covestor Ltd grew its position in shares of Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after purchasing an additional 70 shares during the period. IAM Advisory LLC grew its position in shares of Snowflake by 2.0% in the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock valued at $600,000 after purchasing an additional 74 shares during the period. Joseph P. Lucia & Associates LLC grew its position in shares of Snowflake by 2.6% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock valued at $478,000 after purchasing an additional 75 shares during the period. Finally, Gulf International Bank UK Ltd grew its position in shares of Snowflake by 0.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 24,499 shares of the company’s stock valued at $3,959,000 after purchasing an additional 99 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 30,000 shares of the 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 sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 30,000 shares of the stock in a transaction on 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 in the company, valued at approximately $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. In the last three months, insiders have sold 59,538 shares of company stock valued at $7,049,994. 7.80% of the stock is owned by corporate insiders.

Snowflake Price Performance

SNOW stock opened at $124.03 on Friday. The stock has a market capitalization of $41.57 billion, a price-to-earnings ratio of -40.53 and a beta of 0.83. The business’s fifty day moving average price is $116.35 and its two-hundred day moving average price is $134.53. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.52) EPS. Research analysts expect that Snowflake Inc. will post -2.41 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Snowflake in a research report on Monday, July 1st. Wells Fargo & Company reduced their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Citigroup reduced their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Barclays reduced their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Argus began coverage on Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

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.