Janney Capital Management LLC Sells 12,004 Shares of Snowflake Inc. $SNOW

Janney Capital Management LLC trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,845 shares of the company’s stock after selling 12,004 shares during the quarter. Janney Capital Management LLC’s holdings in Snowflake were worth $10,930,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Smith Anglin Financial LLC bought a new stake in Snowflake in the second quarter worth $223,000. SWS Partners boosted its holdings in Snowflake by 25.4% in the second quarter. SWS Partners now owns 25,931 shares of the company’s stock worth $5,803,000 after acquiring an additional 5,248 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new stake in Snowflake in the second quarter worth $246,000. GC Wealth Management RIA LLC bought a new stake in Snowflake in the second quarter worth $1,219,000. Finally, Exane Asset Management bought a new stake in Snowflake in the second quarter worth $585,000. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 0.5%

SNOW stock opened at $225.76 on Tuesday. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The business’s 50-day moving average is $214.49 and its two-hundred day moving average is $194.01. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $76.49 billion, a price-to-earnings ratio of -54.40 and a beta of 1.22.

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

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $216.00, for a total value of $2,160,000.00. Following the transaction, the executive vice president owned 537,336 shares of the company’s stock, valued at $116,064,576. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $10,505,037.22. Following the completion of the transaction, the director directly owned 36,116 shares in the company, valued at $7,537,048.04. This trade represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,947,739 shares of company stock valued at $438,614,781 over the last quarter. 6.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNOW. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $240.00 in a report on Wednesday, August 20th. Wells Fargo & Company upped their price target on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Stephens began coverage on Snowflake in a report on Friday, July 18th. They set an “overweight” rating and a $261.00 price target on the stock. Stifel Nicolaus upped their price target on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Royal Bank Of Canada upped their price target on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $255.53.

Snowflake 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.