J.W. Cole Advisors Inc. Lowers Stock Holdings in Snowflake Inc. (NYSE:SNOW)

J.W. Cole Advisors Inc. trimmed its position in Snowflake Inc. (NYSE:SNOW) by 49.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,526 shares of the company’s stock after selling 1,514 shares during the period. J.W. Cole Advisors Inc.’s holdings in Snowflake were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 4.0% in the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after buying an additional 743,211 shares in the last quarter. FMR LLC lifted its holdings in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after buying an additional 1,496,235 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after buying an additional 95,814 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Snowflake by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock worth $254,942,000 after buying an additional 79,825 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Snowflake by 69.9% in the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after buying an additional 623,277 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders sold a total of 168,209 shares of company stock valued at $34,291,592 in the last quarter. 8.30% of the stock is owned by insiders.

Snowflake Trading Up 2.5 %

Shares of SNOW stock opened at $155.01 on Thursday. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The stock has a market cap of $51.80 billion, a PE ratio of -60.79 and a beta of 0.91. The company’s fifty day moving average price is $172.95 and its 200-day moving average price is $179.15.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, sell-side analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Snowflake in a research note on Thursday, April 11th. They issued an “overweight” rating and a $185.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $205.00 target price (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. JMP Securities raised their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

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.