Valeo Financial Advisors LLC Cuts Stock Position in Snowflake Inc. $SNOW

Valeo Financial Advisors LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 18.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,844 shares of the company’s stock after selling 2,403 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Snowflake were worth $2,446,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SNOW. Brighton Jones LLC raised its stake in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC grew its holdings in Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Snowflake by 224.8% in the second quarter. Fifth Third Bancorp now owns 354 shares of the company’s stock worth $79,000 after buying an additional 245 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Snowflake in the second quarter worth $53,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Up 1.6%

SNOW opened at $216.14 on Thursday. The stock has a 50-day moving average of $225.08 and a 200 day moving average of $228.25. 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 firm has a market cap of $73.96 billion, a P/E ratio of -53.50 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. KeyCorp lifted their price target on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Sanford C. Bernstein restated a “market perform” rating and set a $237.00 price objective on shares of Snowflake in a research report on Thursday, December 4th. Citigroup reduced their target price on Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Piper Sandler reiterated an “overweight” rating and issued a $285.00 target price on shares of Snowflake in a research report on Thursday, December 4th. Finally, Argus upgraded Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.58.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,072 shares of Snowflake stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $223.63, for a total transaction of $239,731.36. Following the completion of the transaction, the chief accounting officer directly owned 43,809 shares of the company’s stock, valued at $9,797,006.67. The trade was a 2.39% 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, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the transaction, the executive vice president owned 471,351 shares in the company, valued at $103,650,084.90. This trade represents a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 618,681 shares of company stock valued at $137,427,145 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Snowflake Profile

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.