Snowflake Inc. (NYSE:SNOW) Shares Sold by Sapient Capital LLC

Sapient Capital LLC lessened its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,816 shares of the company’s stock after selling 197 shares during the quarter. Sapient Capital LLC’s holdings in Snowflake were worth $455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in Snowflake during the 4th quarter valued at $25,000. Ulland Investment Advisors LLC increased its stake in shares of Snowflake by 270.0% in the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Provence Wealth Management Group acquired a new position in shares of Snowflake in the third quarter worth $30,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $158.52 per share, for a total transaction of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock valued at $34,291,592 over the last three months. 8.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Needham & Company LLC lowered their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Piper Sandler reissued an “overweight” rating and set a $250.00 target price on shares of Snowflake in a research report on Tuesday, February 27th. Redburn Atlantic reissued a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Trading Down 1.4 %

Shares of NYSE SNOW traded down $2.28 during mid-day trading on Tuesday, hitting $155.16. The company had a trading volume of 4,011,604 shares, compared to its average volume of 6,482,611. Snowflake Inc. has a one year low of $138.40 and a one year high of $237.72. The firm has a 50-day simple moving average of $167.16 and a two-hundred day simple moving average of $179.13. The company has a market capitalization of $51.85 billion, a PE ratio of -60.85 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Sell-side analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

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, as well as applies artificial intelligence (AI) for solving business problems.