Retirement Planning Co of New England Inc. Cuts Position in Snowflake Inc. (NYSE:SNOW)

Retirement Planning Co of New England Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 43.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,185 shares of the company’s stock after selling 1,703 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Snowflake were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP grew its stake in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after acquiring an additional 59 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after purchasing an additional 65 shares in the last quarter. Archford Capital Strategies LLC increased its holdings in Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after buying an additional 68 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares in the last quarter. Finally, Landscape Capital Management L.L.C. lifted its holdings in Snowflake by 3.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 2,627 shares of the company’s stock worth $406,000 after buying an additional 77 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. DA Davidson reissued a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Royal Bank Of Canada raised their price target on Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Oppenheimer reiterated an “outperform” rating on shares of Snowflake in a research note on Tuesday, June 24th. Finally, Rosenblatt Securities restated a “buy” rating and set a $205.00 target price on shares of Snowflake in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.73.

Snowflake Trading Down 0.1%

Shares of NYSE:SNOW opened at $211.64 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The firm has a fifty day moving average price of $206.90 and a 200 day moving average price of $178.46. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $70.66 billion, a PE ratio of -50.27 and a beta of 1.22.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director directly owned 4,474 shares in the company, valued at $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the sale, the executive vice president owned 547,336 shares in the company, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,718,258 shares of company stock valued at $589,762,906. 6.80% of the stock is currently owned by insiders.

Snowflake Company 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.