Venturi Wealth Management LLC Lowers Position in Snowflake Inc. (NYSE:SNOW)

Venturi Wealth Management LLC reduced its stake in Snowflake Inc. (NYSE:SNOW) by 64.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 541 shares of the company’s stock after selling 987 shares during the period. Venturi Wealth Management LLC’s holdings in Snowflake were worth $62,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SNOW. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the 2nd quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 over the last quarter. Company insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $165.00 target price on shares of Snowflake in a report on Thursday, August 22nd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday. KeyCorp reduced their price target on Snowflake from $168.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Needham & Company LLC lowered their price objective on Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Snowflake Stock Performance

SNOW stock opened at $125.92 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a fifty day moving average of $116.73 and a 200-day moving average of $128.68. The stock has a market capitalization of $42.21 billion, a PE ratio of -41.15 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data 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. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.52) EPS. Equities analysts forecast that Snowflake Inc. will post -2.41 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.