Prospera Financial Services Inc Trims Holdings in Snowflake Inc. (NYSE:SNOW)

Prospera Financial Services Inc trimmed its position in Snowflake Inc. (NYSE:SNOW) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,045 shares of the company’s stock after selling 196 shares during the period. Prospera Financial Services Inc’s holdings in Snowflake were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. ProShare Advisors LLC lifted its holdings in shares of Snowflake by 26.1% during the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after acquiring an additional 295 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Snowflake by 372.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock worth $36,546,000 after acquiring an additional 178,253 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Snowflake by 132.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock worth $939,000 after acquiring an additional 3,310 shares during the period. Gabelli Funds LLC purchased a new position in shares of Snowflake during the 1st quarter worth about $238,000. Finally, LRI Investments LLC purchased a new position in shares of Snowflake during the 1st quarter worth about $29,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America increased their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Finally, Evercore ISI increased their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Performance

SNOW stock opened at $167.44 on Friday. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock’s fifty day moving average is $120.06 and its two-hundred day moving average is $128.00.

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

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock worth $7,061,544. 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.