Farther Finance Advisors LLC Decreases Stake in Snowflake Inc. (NYSE:SNOW)

Farther Finance Advisors LLC decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 11.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,698 shares of the company’s stock after selling 481 shares during the period. Farther Finance Advisors LLC’s holdings in Snowflake were worth $425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC lifted its position 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 acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake in the third quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the 3rd quarter valued at $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake during the 2nd quarter worth $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frank Slootman sold 6,251 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,538 shares of company stock valued at $7,061,544 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Wells Fargo & Company lowered their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. 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. Monness Crespi & Hardt raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut their price target on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.17.

Snowflake Trading Up 1.7 %

SNOW stock opened at $123.49 on Friday. The firm’s 50-day moving average is $114.83 and its two-hundred day moving average is $129.88. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of -40.36 and a beta of 0.83. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping 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 firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the prior year, the firm posted ($0.52) earnings per share. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities research analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current 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.