Doliver Advisors LP Cuts Stock Holdings in Snowflake Inc. $SNOW

Doliver Advisors LP lowered its stake in shares of Snowflake Inc. (NYSE:SNOW) by 0.9% during the second quarter, HoldingsChannel.com reports. The firm owned 8,318 shares of the company’s stock after selling 72 shares during the period. Doliver Advisors LP’s holdings in Snowflake were worth $1,861,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Snowflake during the first quarter worth approximately $26,000. CVA Family Office LLC raised its stake in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the period. Spurstone Advisory Services LLC purchased a new position in Snowflake during the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake during the fourth quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Snowflake during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SNOW shares. Macquarie increased their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. The Goldman Sachs Group increased their price target on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Jefferies Financial Group increased their price target on shares of Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Finally, Canaccord Genuity Group raised their target price on shares of Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

Snowflake Stock Performance

Snowflake stock opened at $221.17 on Friday. Snowflake Inc. has a 12-month low of $108.71 and a 12-month high of $249.99. The company has a market capitalization of $73.84 billion, a price-to-earnings ratio of -53.29 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.58. The firm’s fifty day moving average price is $212.83 and its 200 day moving average price is $188.94.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,938 shares of Snowflake stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $223.86, for a total transaction of $433,840.68. Following the sale, the director owned 162,737 shares of the company’s stock, valued at $36,430,304.82. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 548 shares of Snowflake stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total transaction of $122,675.28. Following the sale, the executive vice president directly owned 553,733 shares in the company, valued at $123,958,669.38. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224,389 shares of company stock valued at $719,812,350 in the last quarter. Company insiders own 6.80% of the company’s stock.

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.