Transcend Capital Advisors LLC Sells 2,935 Shares of Snowflake Inc. (NYSE:SNOW)

Transcend Capital Advisors LLC decreased its stake in Snowflake Inc. (NYSE:SNOW) by 51.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,729 shares of the company’s stock after selling 2,935 shares during the period. Transcend Capital Advisors LLC’s holdings in Snowflake were worth $543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in shares of Snowflake by 6.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after buying an additional 3,124 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Snowflake by 0.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,400 shares of the company’s stock worth $8,922,000 after acquiring an additional 200 shares during the last quarter. Ulland Investment Advisors LLC boosted its stake in shares of Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Snowflake by 13.4% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 142,456 shares of the company’s stock valued at $21,763,000 after purchasing an additional 16,806 shares during the last quarter. Finally, Xponance Inc. raised its position in Snowflake by 1.7% in the 3rd quarter. Xponance Inc. now owns 44,375 shares of the company’s stock worth $6,779,000 after purchasing an additional 742 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $157.47 on Tuesday. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The stock’s 50 day moving average is $168.46 and its 200 day moving average is $179.14.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate 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 business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, research analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Activity at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now owns 86,208 shares in the company, valued at $13,915,695.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer reduced their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.00.

About Snowflake

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.