Snowflake Inc. (NYSE:SNOW) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.0% during the first quarter, Holdings Channel reports. The institutional investor owned 1,915 shares of the company’s stock after selling 100 shares during the period. Carson Advisory Inc.’s holdings in Snowflake were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Forum Financial Management LP raised its position in shares of Snowflake by 5.6% during the 1st quarter. Forum Financial Management LP now owns 2,176 shares of the company’s stock worth $318,000 after buying an additional 115 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Snowflake by 13.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,767 shares of the company’s stock worth $404,000 after buying an additional 326 shares in the last quarter. Bailard Inc. bought a new stake in shares of Snowflake in the 1st quarter worth approximately $402,000. Mayflower Financial Advisors LLC raised its holdings in shares of Snowflake by 7.7% in the 1st quarter. Mayflower Financial Advisors LLC now owns 3,733 shares of the company’s stock worth $546,000 after purchasing an additional 267 shares in the last quarter. Finally, Allen Capital Group LLC raised its holdings in shares of Snowflake by 10.0% in the 1st quarter. Allen Capital Group LLC now owns 20,059 shares of the company’s stock worth $2,932,000 after purchasing an additional 1,826 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 target price (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Barclays reiterated an “overweight” rating and issued a $219.00 target price (up from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Macquarie boosted their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Finally, Truist Financial boosted their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.73.

Insider Activity

In other news, Director Teresa Briggs sold 1,146 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were 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 approximately $974,168.76. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $221.47, for a total transaction of $89,252.41. Following the completion of the sale, the director owned 26,539 shares of the company’s stock, valued at $5,877,592.33. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock valued at $589,762,906 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

SNOW stock opened at $211.64 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $70.66 billion, a price-to-earnings ratio of -50.27 and a beta of 1.22. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $226.60. The firm has a 50 day moving average of $206.90 and a two-hundred day moving average of $178.46.

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

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.