Liontrust Investment Partners LLP Sells 65,335 Shares of Snowflake Inc. (NYSE:SNOW)

Liontrust Investment Partners LLP trimmed its position in Snowflake Inc. (NYSE:SNOW) by 46.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,835 shares of the company’s stock after selling 65,335 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Snowflake were worth $10,792,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SNOW. Nuveen LLC bought a new stake in shares of Snowflake in the first quarter worth about $555,847,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after purchasing an additional 650,775 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Snowflake by 26.5% in the first quarter. Invesco Ltd. now owns 3,088,288 shares of the company’s stock worth $451,384,000 after purchasing an additional 647,176 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Snowflake by 157.0% in the fourth quarter. Voya Investment Management LLC now owns 925,817 shares of the company’s stock worth $142,955,000 after purchasing an additional 565,561 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 424,852 shares of the company’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares of the company’s stock, valued at $36,303,960.45. This represents a 71.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the transaction, the chief financial officer directly owned 292,610 shares in the company, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,014,642 shares of company stock worth $657,325,186. 6.80% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of SNOW stock opened at $195.02 on Friday. The business’s fifty day simple moving average is $212.74 and its 200-day simple moving average is $184.44. The company has a market cap of $65.11 billion, a PE ratio of -46.32 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on SNOW. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price target (up previously from $225.00) on shares of Snowflake in a research report on Friday, June 13th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Snowflake in a research report on Thursday, June 5th. JMP Securities lifted their price target on Snowflake from $245.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Friday, July 18th. Cantor Fitzgerald lifted their price target on Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $212.00 price target (up previously from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.32.

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.