Valeo Financial Advisors LLC Reduces Stock Holdings in Snowflake Inc. (NYSE:SNOW)

by · The Markets Daily

Valeo Financial Advisors LLC decreased its stake in Snowflake Inc. (NYSE:SNOW – Free Report) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,720 shares of the company’s stock after selling 2,591 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Snowflake were worth $1,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Snowflake by 260.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,317 shares of the company’s stock worth $266,000 after purchasing an additional 1,675 shares during the period. Independence Bank of Kentucky boosted its holdings in Snowflake by 16.8% during the 3rd quarter. Independence Bank of Kentucky now owns 6,585 shares of the company’s stock valued at $756,000 after acquiring an additional 945 shares during the period. Clarius Group LLC boosted its holdings in Snowflake by 15.3% during the 3rd quarter. Clarius Group LLC now owns 18,374 shares of the company’s stock valued at $2,082,000 after acquiring an additional 2,439 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in Snowflake during the 3rd quarter valued at $1,729,000. Finally, Modus Advisors LLC boosted its holdings in Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNOW shares. Morgan Stanley restated an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Snowflake in a report on Monday, July 1st. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $119.00 to $121.00 in a report on Friday, August 23rd. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Read Our Latest Analysis on Snowflake

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by insiders.

Snowflake Stock Performance

Snowflake stock opened at $124.03 on Friday. The business’s 50-day simple moving average is $116.35 and its two-hundred day simple moving average is $134.53. The company has a market cap of $41.57 billion, a PE ratio of -40.53 and a beta of 0.83. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

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, as well as applies artificial intelligence (AI) for solving business problems.

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