Advisors Asset Management Inc. Sells 529 Shares of Snowflake Inc. (NYSE:SNOW)

Advisors Asset Management Inc. reduced its holdings in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 22.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,834 shares of the company’s stock after selling 529 shares during the quarter. Advisors Asset Management Inc.’s holdings in Snowflake were worth $255,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Tcwp LLC acquired a new position in shares of Snowflake during the first quarter valued at about $30,000. Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 822.2% during the first quarter. Geneos Wealth Management Inc. now owns 166 shares of the company’s stock valued at $38,000 after buying an additional 148 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Snowflake by 1,800.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 190 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of Snowflake by 6,433.3% during the second quarter. Bogart Wealth LLC now owns 196 shares of the company’s stock valued at $27,000 after buying an additional 193 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW opened at $146.20 on Monday. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $400.60. The stock has a market capitalization of $46.78 billion, a PE ratio of -67.37 and a beta of 0.86. The company’s 50 day simple moving average is $166.32 and its two-hundred day simple moving average is $155.37.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNOW. Piper Sandler reduced their price objective on shares of Snowflake from $220.00 to $218.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Capital One Financial initiated coverage on shares of Snowflake in a report on Friday, August 19th. They set an “equal weight” rating and a $182.00 price target on the stock. Wolfe Research boosted their price target on shares of Snowflake from $170.00 to $197.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Guggenheim initiated coverage on shares of Snowflake in a report on Friday, August 12th. They set a “sell” rating and a $125.00 price target on the stock. Finally, Loop Capital boosted their price target on shares of Snowflake from $180.00 to $210.00 in a report on Thursday, August 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $213.49.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $131,123.64. Following the sale, the insider now owns 15,512 shares in the company, valued at approximately $2,809,378.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Teresa Briggs sold 1,224 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the sale, the director now owns 2,217 shares in the company, valued at approximately $433,933.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 724 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $181.11, for a total transaction of $131,123.64. Following the sale, the insider now owns 15,512 shares in the company, valued at approximately $2,809,378.32. The disclosure for this sale can be found here. Insiders have sold 3,599 shares of company stock worth $669,710 in the last three months. 8.90% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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