Cladis Investment Advisory LLC Sells 850 Shares of Snowflake Inc. $SNOW

Cladis Investment Advisory LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,885 shares of the company’s stock after selling 850 shares during the quarter. Snowflake makes up 1.7% of Cladis Investment Advisory LLC’s holdings, making the stock its 13th biggest holding. Cladis Investment Advisory LLC’s holdings in Snowflake were worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SNOW. Brighton Jones LLC increased its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Gabelli Funds LLC grew its stake in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after acquiring an additional 65 shares during the period. NewEdge Advisors LLC grew its stake in Snowflake by 30.3% in the fourth quarter. NewEdge Advisors LLC now owns 11,280 shares of the company’s stock valued at $1,742,000 after acquiring an additional 2,623 shares during the period. Zacks Investment Management acquired a new stake in Snowflake in the fourth quarter valued at approximately $201,000. Finally, Commerce Bank grew its stake in Snowflake by 6.0% in the fourth quarter. Commerce Bank now owns 5,793 shares of the company’s stock valued at $894,000 after acquiring an additional 328 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 424,852 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the sale, the director owned 165,507 shares of the company’s stock, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer directly owned 292,610 shares in the company, valued at $60,090,389.60. This trade represents a 57.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,014,642 shares of company stock worth $657,325,186 in the last ninety days. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNOW. Stephens began coverage on Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective for the company. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Snowflake in a research note on Thursday, June 5th. Mizuho raised their price objective on Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Finally, Monness Crespi & Hardt raised their price objective on Snowflake from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $226.32.

Snowflake Stock Up 2.2%

Shares of NYSE SNOW opened at $199.11 on Monday. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The business’s fifty day moving average price is $212.50 and its 200-day moving average price is $184.56. The stock has a market capitalization of $66.47 billion, a PE ratio of -47.29 and a beta of 1.22.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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.