Snowflake Inc. (NYSE:SNOW) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC cut its holdings in Snowflake Inc. (NYSE:SNOW) by 64.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541 shares of the company’s stock after selling 987 shares during the quarter. Venturi Wealth Management LLC’s holdings in Snowflake were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SNOW. Baker Avenue Asset Management LP grew its holdings in Snowflake by 49.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 23,794 shares of the company’s stock valued at $2,733,000 after buying an additional 7,914 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Snowflake by 39.3% in the third quarter. Mayflower Financial Advisors LLC now owns 4,192 shares of the company’s stock valued at $481,000 after acquiring an additional 1,182 shares in the last quarter. Covestor Ltd boosted its stake in shares of Snowflake by 16.2% during the third quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after acquiring an additional 115 shares during the last quarter. Carson Advisory Inc. purchased a new stake in Snowflake during the 3rd quarter worth about $240,000. Finally, Washington Trust Advisors Inc. raised its stake in Snowflake by 7.9% in the 3rd quarter. Washington Trust Advisors Inc. now owns 58,429 shares of the company’s stock valued at $6,711,000 after purchasing an additional 4,268 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNOW shares. KeyCorp lowered their price target on shares of Snowflake from $168.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Wednesday, October 2nd. DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Canaccord Genuity Group lowered their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Loop Capital decreased their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $172.09.

Snowflake Trading Down 2.6 %

SNOW stock opened at $125.92 on Friday. The firm has a 50 day simple moving average of $116.73 and a 200-day simple moving average of $128.68. The company has a market capitalization of $42.21 billion, a P/E ratio of -41.15 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the business earned ($0.52) EPS. On average, research analysts predict that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the sale, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated 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 owns 218,246 shares in the company, valued at approximately $23,998,330.16. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last three months. 7.80% of the stock is owned by insiders.

About Snowflake

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.