Brighton Jones LLC Lowers Holdings in Snowflake Inc. (NYSE:SNOW)

Brighton Jones LLC lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 55.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,565 shares of the company’s stock after selling 39,980 shares during the quarter. Brighton Jones LLC’s holdings in Snowflake were worth $3,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Riverview Trust Co purchased a new stake in Snowflake in the 1st quarter worth $31,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Snowflake in the first quarter worth about $215,000. Sunbelt Securities Inc. lifted its position in shares of Snowflake by 81.9% in the first quarter. Sunbelt Securities Inc. now owns 3,677 shares of the company’s stock worth $594,000 after buying an additional 1,656 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Snowflake during the first quarter valued at approximately $32,000. Finally, Sovereign Financial Group Inc. purchased a new position in Snowflake during the 1st quarter valued at approximately $269,000. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,049,994 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

SNOW opened at $113.60 on Thursday. The firm has a market capitalization of $38.03 billion, a PE ratio of -40.57 and a beta of 0.83. The business’s 50-day moving average is $116.35 and its two-hundred day moving average is $132.52. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus lowered their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Loop Capital decreased their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

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.