Cwm LLC Cuts Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Cwm LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOWFree Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,799 shares of the company’s stock after selling 690 shares during the quarter. Cwm LLC’s holdings in Snowflake were worth $20,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in Snowflake during the fourth quarter valued at about $790,000. Sequoia Financial Advisors LLC lifted its holdings in Snowflake by 209.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Snowflake during the third quarter valued at about $458,000. Glynn Capital Management LLC lifted its holdings in Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after purchasing an additional 5,629 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Snowflake by 55.9% during the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after purchasing an additional 105,937 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush upped their price objective on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Bank of America decreased their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Mizuho reiterated a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Barclays decreased their price target on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Finally, JMP Securities upped their price target on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Check Out Our Latest Stock Report on Snowflake

Snowflake Trading Down 2.0 %

SNOW opened at $145.45 on Monday. The stock has a fifty day simple moving average of $177.80 and a two-hundred day simple moving average of $179.41. The company has a market cap of $48.61 billion, a price-to-earnings ratio of -57.04 and a beta of 0.91. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72.

Snowflake (NYSE:SNOWGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating 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 firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Activity

In related news, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CRO Christopher William Degnan sold 2,346 shares of Snowflake stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at approximately $20,735,982.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders sold 180,555 shares of company stock worth $36,868,487 over the last three months. 8.30% of the stock is currently owned by corporate insiders.

Snowflake 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.

See Also

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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