Janney Capital Management LLC Sells 18,235 Shares of Snowflake Inc. (NYSE:SNOW)

Janney Capital Management LLC lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,849 shares of the company’s stock after selling 18,235 shares during the quarter. Janney Capital Management LLC’s holdings in Snowflake were worth $8,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SNOW. Kirtland Hills Capital Management LLC lifted its holdings in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock worth $19,174,000 after buying an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in Snowflake in the 4th quarter worth about $3,088,000. GraniteShares Advisors LLC purchased a new position in Snowflake in the 4th quarter worth about $781,000. Finally, Deutsche Bank AG increased its stake in Snowflake by 26.0% in the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company’s stock worth $142,513,000 after buying an additional 190,583 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 7,908 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the sale, the executive vice president now directly owns 600,632 shares in the company, valued at approximately $92,899,751.44. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 902,546 shares of company stock valued at $171,188,169. 6.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

SNOW opened at $211.89 on Thursday. 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 firm has a fifty day moving average price of $180.43 and a 200 day moving average price of $171.52. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83. The stock has a market cap of $70.74 billion, a P/E ratio of -50.33 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business posted $0.14 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. Loop Capital raised their price target on shares of Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 price target (up previously from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $212.00 price target (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.50.

About Snowflake

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.