Sequoia Financial Advisors LLC Sells 1,304 Shares of Snowflake Inc. (NYSE:SNOW)

Sequoia Financial Advisors LLC cut its holdings in Snowflake Inc. (NYSE:SNOWFree Report) by 46.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,506 shares of the company’s stock after selling 1,304 shares during the period. Sequoia Financial Advisors LLC’s holdings in Snowflake were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. D.A. Davidson & CO. increased its stake in Snowflake by 3.6% during the third quarter. D.A. Davidson & CO. now owns 4,103 shares of the company’s stock worth $627,000 after acquiring an additional 144 shares during the last quarter. Sepio Capital LP increased its position in shares of Snowflake by 11.5% during the 3rd quarter. Sepio Capital LP now owns 7,631 shares of the company’s stock valued at $1,166,000 after purchasing an additional 790 shares during the last quarter. Spire Wealth Management raised its holdings in Snowflake by 40.9% during the 3rd quarter. Spire Wealth Management now owns 1,346 shares of the company’s stock valued at $206,000 after buying an additional 391 shares during the period. NewEdge Wealth LLC lifted its position in Snowflake by 47.8% in the third quarter. NewEdge Wealth LLC now owns 2,920 shares of the company’s stock worth $446,000 after buying an additional 945 shares during the last quarter. Finally, Fosun International Ltd purchased a new position in Snowflake during the third quarter worth $524,000. 63.74% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

SNOW opened at $233.28 on Monday. The firm has a market capitalization of $76.82 billion, a PE ratio of -87.04 and a beta of 0.97. The business’s 50-day moving average is $198.37 and its two-hundred day moving average is $172.16. Snowflake Inc. has a 1 year low of $128.56 and a 1 year high of $235.00.

Snowflake (NYSE:SNOWGet Free Report) last issued its quarterly earnings data on Wednesday, November 29th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $713.75 million. Snowflake had a negative net margin of 33.35% and a negative return on equity of 14.46%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.60) EPS. As a group, sell-side analysts expect that Snowflake Inc. will post -1.72 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNOW. Mizuho raised their target price on shares of Snowflake from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 30th. TD Cowen boosted their target price on Snowflake from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, December 11th. Capital One Financial raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $195.00 target price on the stock in a research note on Wednesday, November 8th. Wells Fargo & Company boosted their price objective on Snowflake from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. Finally, 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.78.

Check Out Our Latest Report on Snowflake

Insider Transactions at Snowflake

In other news, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $164.75, for a total value of $247,125.00. Following the completion of the sale, the senior vice president now owns 658,789 shares of the company’s stock, valued at approximately $108,535,487.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $164.75, for a total value of $247,125.00. Following the completion of the transaction, the senior vice president now owns 658,789 shares of the company’s stock, valued at $108,535,487.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Grzegorz Czajkowski sold 558 shares of Snowflake stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $188.97, for a total value of $105,445.26. Following the sale, the senior vice president now directly owns 52,747 shares of the company’s stock, valued at approximately $9,967,600.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 630,172 shares of company stock valued at $124,958,555. Corporate insiders own 8.30% of the company’s stock.

Snowflake Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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