Rehmann Capital Advisory Group Sells 140 Shares of Snowflake Inc. (NYSE:SNOW)

Rehmann Capital Advisory Group cut its holdings in Snowflake Inc. (NYSE:SNOWGet Rating) by 10.7% during the 1st quarter, Holdings Channel reports. The fund owned 1,167 shares of the company’s stock after selling 140 shares during the period. Rehmann Capital Advisory Group’s holdings in Snowflake were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services raised its position in Snowflake by 233.3% in the fourth quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after acquiring an additional 56 shares during the period. KRS Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $33,000. GW&K Investment Management LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $34,000. Level Financial Advisors Inc. grew its position in Snowflake by 475.0% during the 1st quarter. Level Financial Advisors Inc. now owns 115 shares of the company’s stock worth $26,000 after purchasing an additional 95 shares during the last quarter. Finally, HM Payson & Co. purchased a new stake in Snowflake during the 4th quarter worth approximately $41,000. 66.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John Dennis Mcmahon sold 1,224 shares of Snowflake stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the completion of the transaction, the director now owns 55,659 shares of the company’s stock, valued at approximately $8,651,634.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John Dennis Mcmahon sold 1,224 shares of Snowflake stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the completion of the transaction, the director now owns 55,659 shares of the company’s stock, valued at approximately $8,651,634.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank Slootman sold 1,651 shares of Snowflake stock in a transaction on Friday, September 9th. The stock was sold at an average price of $181.11, for a total value of $299,012.61. Following the transaction, the chief executive officer now directly owns 135,781 shares of the company’s stock, valued at approximately $24,591,296.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,823 shares of company stock worth $859,968. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Capital One Financial initiated coverage on shares of Snowflake in a research note on Friday, August 19th. They issued an “equal weight” rating and a $182.00 target price for the company. Rosenblatt Securities reduced their target price on shares of Snowflake from $255.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Wolfe Research upped their price objective on shares of Snowflake from $170.00 to $197.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Barclays dropped their price objective on shares of Snowflake from $210.00 to $207.00 and set an “overweight” rating for the company in a report on Thursday, August 25th. Finally, Truist Financial upped their price objective on shares of Snowflake from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $215.94.

Snowflake Trading Down 6.0 %

Shares of SNOW opened at $184.67 on Friday. The firm has a market cap of $59.09 billion, a PE ratio of -85.10 and a beta of 1.05. The company’s 50 day simple moving average is $165.07 and its 200-day simple moving average is $169.05. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Snowflake had a negative net margin of 41.25% and a negative return on equity of 12.57%. The firm had revenue of $497.25 million during the quarter, compared to analysts’ expectations of $466.03 million. As a group, equities research analysts forecast that Snowflake Inc. will post -2 EPS for the current fiscal year.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

Further Reading

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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