Diligent Investors LLC Sells 314 Shares of Snowflake Inc. (NYSE:SNOW)

Diligent Investors LLC trimmed its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,427 shares of the company’s stock after selling 314 shares during the quarter. Diligent Investors LLC’s holdings in Snowflake were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its position in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares in the last quarter. Caprock Group LLC grew its position in Snowflake by 5.5% during the fourth quarter. Caprock Group LLC now owns 4,036 shares of the company’s stock worth $623,000 after buying an additional 211 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $402,000. Avitas Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $260,000. Finally, 1858 Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $279,000. 65.10% of the stock is currently owned by institutional investors.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 3,765 shares of Snowflake stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $586,172.85. Following the completion of the transaction, the executive vice president now owns 616,602 shares in the company, valued at approximately $95,998,765.38. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,779 shares of company stock valued at $159,318,643. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Needham & Company LLC upped their price objective on Snowflake from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. BTIG Research reiterated a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. KeyCorp dropped their target price on Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Bank of America upped their price target on Snowflake from $172.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.28.

Snowflake Price Performance

NYSE:SNOW opened at $209.44 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50-day simple moving average is $166.87 and its two-hundred day simple moving average is $168.02. The stock has a market cap of $69.92 billion, a PE ratio of -61.78 and a beta of 1.21. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $214.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.