Apollon Wealth Management LLC Has $981,000 Stock Position in Snowflake Inc. (NYSE:SNOW)

Apollon Wealth Management LLC decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,544 shares of the company’s stock after selling 853 shares during the period. Apollon Wealth Management LLC’s holdings in Snowflake were worth $981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Snowflake by 10.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,725 shares of the company’s stock worth $279,000 after purchasing an additional 170 shares during the last quarter. Empowered Funds LLC raised its holdings in Snowflake by 23.2% during the 1st quarter. Empowered Funds LLC now owns 4,893 shares of the company’s stock worth $791,000 after purchasing an additional 922 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Snowflake by 12.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,326 shares of the company’s stock worth $861,000 after purchasing an additional 604 shares during the last quarter. ProShare Advisors LLC raised its holdings in Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after purchasing an additional 295 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Snowflake by 386.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 6,579 shares of the company’s stock worth $1,063,000 after purchasing an additional 5,227 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Down 2.6 %

NYSE SNOW opened at $125.92 on Friday. The company has a market cap of $42.21 billion, a PE ratio of -41.15 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50 day moving average of $116.73 and a 200-day moving average of $128.68.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the prior year, the business earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, sell-side analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Evercore ISI lowered their price target on Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Bank of America lowered their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $172.09.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% 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.