Snowflake Inc. $SNOW Shares Sold by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 48.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,090 shares of the company’s stock after selling 18,010 shares during the period. Abacus FCF Advisors LLC’s holdings in Snowflake were worth $4,306,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sivia Capital Partners LLC boosted its stake in shares of Snowflake by 10.9% in the third quarter. Sivia Capital Partners LLC now owns 6,679 shares of the company’s stock valued at $1,506,000 after buying an additional 658 shares in the last quarter. Diversified Trust Co raised its position in Snowflake by 164.4% in the third quarter. Diversified Trust Co now owns 15,155 shares of the company’s stock worth $3,418,000 after acquiring an additional 9,423 shares in the last quarter. LVW Advisors LLC lifted its holdings in Snowflake by 35.4% in the third quarter. LVW Advisors LLC now owns 1,303 shares of the company’s stock valued at $294,000 after acquiring an additional 341 shares during the period. waypoint wealth counsel lifted its holdings in Snowflake by 12.7% in the third quarter. waypoint wealth counsel now owns 3,494 shares of the company’s stock valued at $788,000 after acquiring an additional 393 shares during the period. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter worth $28,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNOW. Mizuho raised their price objective on shares of Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Raymond James Financial set a $250.00 target price on shares of Snowflake in a research report on Monday, December 15th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Wednesday, November 26th. Wells Fargo & Company boosted their price target on Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Oppenheimer restated an “outperform” rating on shares of Snowflake in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the transaction, the executive vice president owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the sale, the director owned 33,596 shares in the company, valued at approximately $8,644,250.80. This trade represents a 59.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 411,880 shares of company stock valued at $95,529,832 over the last 90 days. Insiders own 6.80% of the company’s stock.

Snowflake Stock Down 0.5%

Shares of NYSE:SNOW opened at $222.80 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $76.24 billion, a P/E ratio of -55.15 and a beta of 1.09. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The stock’s fifty day simple moving average is $245.45 and its 200-day simple moving average is $228.51.

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

Snowflake Company 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.