Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 437 Shares of Snowflake Inc. (NYSE:SNOW)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its stake in Snowflake Inc. (NYSE:SNOW) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,545 shares of the company’s stock after selling 437 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Snowflake were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cigna Investments Inc. New increased its position in shares of Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP increased its position in Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the last quarter. Valley National Advisers Inc. increased its position in Snowflake by 18.1% in the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares during the last quarter. AdvisorNet Financial Inc increased its position in Snowflake by 5.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after buying an additional 61 shares during the last quarter. Finally, Kingfisher Capital LLC increased its position in Snowflake by 0.4% in the third quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock worth $2,253,000 after buying an additional 63 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $152.01 on Tuesday. Snowflake Inc. has a 1 year low of $135.26 and a 1 year high of $237.72. The company has a market cap of $50.80 billion, a PE ratio of -59.61 and a beta of 0.91. The stock’s 50-day moving average is $183.70 and its 200 day moving average is $179.49.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Analysts expect that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SNOW shares. Piper Sandler reissued an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a research report on Tuesday, February 27th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $182.00 to $205.00 in a research note on Thursday, February 29th. Finally, Wedbush lifted their price objective on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.00.

Insider Activity at Snowflake

In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost 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 of the company’s stock, valued at $5,000,037.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold 179,055 shares of company stock worth $36,633,917 over the last ninety days. 8.30% of the stock is owned by corporate insiders.

Snowflake 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.