Valeo Financial Advisors LLC Sells 2,403 Shares of Snowflake Inc. $SNOW

Valeo Financial Advisors LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 18.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,844 shares of the company’s stock after selling 2,403 shares during the period. Valeo Financial Advisors LLC’s holdings in Snowflake were worth $2,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snowflake by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock valued at $165,123,000 after purchasing an additional 8,002 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Snowflake during the 2nd quarter valued at approximately $6,845,000. Rheos Capital Works Inc. raised its holdings in shares of Snowflake by 102.9% in the third quarter. Rheos Capital Works Inc. now owns 207,000 shares of the company’s stock worth $46,689,000 after buying an additional 105,000 shares during the last quarter. Goldstream Capital Management Ltd acquired a new stake in shares of Snowflake during the second quarter worth $3,801,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Snowflake by 81.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 20,141 shares of the company’s stock worth $4,507,000 after buying an additional 9,052 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the sale, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00. Following the completion of the transaction, the director owned 50,329 shares of the company’s stock, valued at approximately $11,164,482.07. This represents a 79.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 618,681 shares of company stock worth $137,427,145. 6.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SNOW shares. Bank of America raised their target price on Snowflake from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Citigroup cut their price objective on Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Cantor Fitzgerald lifted their target price on Snowflake from $275.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Wednesday, November 26th. Finally, UBS Group reissued a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.58.

Snowflake Trading Up 1.6%

Shares of NYSE:SNOW opened at $216.14 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The business has a 50 day moving average of $225.08 and a two-hundred day moving average of $228.25. The company has a market capitalization of $73.96 billion, a PE ratio of -53.50 and a beta of 1.14.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business’s revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.