Transcend Capital Advisors LLC Sells 192 Shares of Snowflake Inc. (NYSE:SNOW)

Transcend Capital Advisors LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,689 shares of the company’s stock after selling 192 shares during the period. Transcend Capital Advisors LLC’s holdings in Snowflake were worth $374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SNOW. Level Financial Advisors Inc. grew its holdings in shares of Snowflake by 475.0% in the first 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. Glassman Wealth Services grew its holdings in shares of Snowflake by 233.3% in the fourth quarter. Glassman Wealth Services now owns 80 shares of the company’s stock worth $27,000 after purchasing an additional 56 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new position in shares of Snowflake in the first quarter worth approximately $30,000. Finally, Tcwp LLC bought a new position in shares of Snowflake in the first quarter worth approximately $30,000. 66.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Barclays cut their target price on shares of Snowflake from $210.00 to $207.00 and set an “overweight” rating on the stock in a report on Thursday, August 25th. Citigroup cut their price target on shares of Snowflake from $232.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, May 26th. Cowen lifted their price target on shares of Snowflake from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Capital One Financial began coverage on shares of Snowflake in a report on Friday, August 19th. They issued an “equal weight” rating and a $182.00 price target on the stock. Finally, Guggenheim began coverage on shares of Snowflake in a report on Friday, August 12th. They issued a “sell” rating and a $125.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.94.

Insider Buying and Selling

In related news, CEO Frank Slootman sold 1,651 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Teresa Briggs sold 1,224 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $195.73, for a total transaction of $239,573.52. Following the sale, the director now directly owns 2,217 shares of the company’s stock, valued at approximately $433,933.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Slootman sold 1,651 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 135,781 shares in the company, valued at $24,591,296.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,823 shares of company stock valued at $859,968. Corporate insiders own 8.90% of the company’s stock.

Snowflake Trading Down 2.2 %

Shares of NYSE:SNOW opened at $178.72 on Thursday. The stock has a 50 day moving average of $167.05 and a 200 day moving average of $168.01. The company has a market cap of $57.19 billion, a PE ratio of -82.36 and a beta of 1.05. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last announced its quarterly earnings data on Wednesday, August 24th. The company reported ($0.67) earnings per share (EPS) 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 company had revenue of $497.25 million for the quarter, compared to the consensus estimate of $466.03 million. Equities research analysts predict that Snowflake Inc. will post -2 earnings per share for the current fiscal year.

Snowflake Company 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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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