Snowflake Inc. (NYSE:SNOW) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,064 shares of the company’s stock after selling 150 shares during the period. Evanson Asset Management LLC’s holdings in Snowflake were worth $411,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Snowflake by 79.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock valued at $984,000 after purchasing an additional 1,897 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Snowflake in the first quarter valued at approximately $2,880,000. Panagora Asset Management Inc. boosted its stake in shares of Snowflake by 24.8% in the first quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock valued at $623,000 after buying an additional 540 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Snowflake during the first quarter worth $362,000. Finally, Cibc World Market Inc. boosted its position in Snowflake by 37.2% during the first quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock worth $3,198,000 after purchasing an additional 3,783 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Rosenblatt Securities decreased their target price on Snowflake from $190.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Scotiabank upped their price objective on Snowflake from $194.00 to $226.00 and gave the company a “sector outperform” rating in a research report on Thursday, November 30th. Oppenheimer reduced their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Piper Sandler restated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a research report on Tuesday, February 27th. Finally, Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $202.50.

Snowflake Trading Up 0.9 %

Shares of SNOW traded up $1.39 during mid-day trading on Thursday, hitting $161.43. 10,099,773 shares of the company traded hands, compared to its average volume of 7,140,221. Snowflake Inc. has a one year low of $135.26 and a one year high of $237.72. The business has a 50-day moving average of $195.94 and a 200 day moving average of $179.43. The stock has a market capitalization of $53.16 billion, a price-to-earnings ratio of -63.96 and a beta of 0.94.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. As a group, analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,355 shares of company stock worth $37,679,411. Company insiders own 8.30% of the company’s stock.

Snowflake Company 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.