Snowflake Inc. (NYSE:SNOW) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.7% during the third quarter, Holdings Channel.com reports. The fund owned 5,045 shares of the company’s stock after selling 196 shares during the quarter. Prospera Financial Services Inc’s holdings in Snowflake were worth $579,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC grew its holdings in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new position in Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in Snowflake in the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new position in Snowflake in the 3rd quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Snowflake in the 2nd quarter worth about $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNOW. Monness Crespi & Hardt lifted their price target on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp lifted their price target on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup dropped their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Argus started coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Finally, StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Stock Down 2.3 %

Shares of NYSE SNOW opened at $167.44 on Friday. The business’s 50 day moving average is $120.06 and its two-hundred day moving average is $128.00. The company has a market cap of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 22.01% and a negative net margin of 33.02%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.52) EPS. Sell-side analysts expect that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock valued at $7,061,544 in the last three months. 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.