Coastal Investment Advisors Inc. reduced its stake in Snowflake Inc. (NYSE: SNOW – Get Rating) by 20.8% in the first quarter, according to HoldingsChannel.com. The company owned 1,511 shares of the company’s stock after selling 398 shares in the quarter. The holdings of Coastal Investment Advisors Inc. in Snowflake were worth $ 346,000 at the time of his last filing with the SEC.
A number of other institutional investors and hedge funds have also recently changed their holdings of SNOW. Nordea Investment Management AB increased its position in Snowflake shares by 4.5% in the first quarter. Nordea Investment Management AB already owns 148,058 shares of the company’s shares worth $ 34,591,000 after purchasing an additional 6,380 shares during the period. Robeco Institutional Asset Management BV increased its stake in Snowflake by 3.4% in the fourth quarter. Robeco Institutional Asset Management BV already owns 50,185 shares of the company’s stock worth $ 16,998,000 after acquiring an additional 1,658 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Snowflake by 1317.0% in the third quarter. UBS Asset Management Americas Inc. already owns 2,049,545 shares of the company’s shares worth $ 619,844,000 after acquiring an additional 1,904,908 shares during the period. Oppenheimer & Co. Inc. raised its stake in Snowflake by 17.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,035 shares of the company’s stock worth $ 2,722,000 after buying an additional 1,175 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in Snowflake by 46.2% in the 4th quarter. Centaurus Financial Inc. already owns 4,413 shares of the company’s stock worth $ 1,495,000 after purchasing an additional 1,394 shares during the period. 76.67% of the shares are currently owned by institutional investors and hedge funds.
Several stock research analysts recently released SNOW stock reports. Morgan Stanley lowered its price target for Snowflake from $ 322.00 to $ 295.00 and set a rating for the company’s “overweight” in a note from the survey on Thursday, May 26. Exane BNP Paribas downgraded Snowflake from “neutral” to “lower” and set a price target for the company of $ 190.00. in a report on Tuesday, March 29. Atlantic Securities covered Snowflake in a research report on Thursday, March 31st. They issued a “neutral” valuation and a target price of $ 240.00 per share. Cowen lowered his target price for Snowflake shares from $ 390.00 to $ 280.00 and set a rating “superior” for the company in a research report on Monday, May 23. Finally, Deutsche Bank Aktiengesellschaft lowered its target price for Snowflake shares from $ 300.00 to $ 175.00 in a report on Thursday, May 26. Three investment analysts rated the stock with a sell rating, seven issued a hold rating and twenty-five rated the buy rating. Based on data from MarketBeat, the company currently has an average “Moderate Buying” rating and an average target price of $ 222.71.
SNOW opened at $ 151.53 on Friday. The company has a market capitalization of $ 47.67 billion, a price-to-earnings ratio of -71.81 and a beta of 1.86. Shares have a 50-day simple moving average of $ 146.54 and a two-day simple moving average of $ 227.72. Snowflake Inc. has a 12-month low of $ 110.26 and a 12-month high of $ 405.00.
Snowflake (NYSE: SNOW – Get Rating) last released its earnings results on Wednesday, May 25th. The company reported earnings of $ 0.08 per share for the quarter, beating analysts’ consensus estimates of ($ 0.39) by $ 0.47. Snowflake had a negative net margin of 45.48% and a negative return on equity of 12.39%. The company had revenue of $ 422.37 million for the quarter, compared to the consensus estimate of $ 413.01 million. During the same period last year, the company earned ($ 0.69) EPS. The company’s revenue increased by 84.5% compared to the same quarter last year. On average, sales analysts predict that Snowflake Inc. will report -2.1 EPS for the current fiscal year.
In related news, CEO Frank Slutman sold 1,727 shares of the company’s shares in a deal on Thursday, June 9th. The shares were sold at an average price of $ 136.18, for a total value of $ 235,182.86. Following the deal, the CEO now owns 138,551 shares of the company worth approximately $ 18,867,875.18. The sale was revealed in a document submitted to the SEC, which is accessible through the SEC website. Also, insider Benoit Dugville sold 727 shares of the stock in a deal on Thursday, June 9th. The shares were sold at an average price of $ 136.18, for a total transaction of $ 99,002.86. Following the sale, the insider now directly owns 16,620 shares of the company worth $ 2,263,311.60. The disclosure for this sale can be found here. 8.90% of the shares are currently owned by insiders of the company.
Company profile Snowflake (Get a rating)
Snowflake Inc provides a cloud data platform in the United States and internationally. The company’s platform offers a Data Cloud that allows customers to consolidate data into a single source of truth to drive meaningful business insights, create data-driven applications, and share data. Its platform is used by various size organizations in a number of industries.
Want to see what other hedge funds hold SNOW? Visit HoldingsChannel.com to receive the latest 13F orders and domestic deals for Snowflake Inc. (NYSE: SNOW – Get rating).
Receive news and reviews for Snowflake Daily – Enter your email address below to receive a brief daily summary of the latest news and analyst ratings for Snowflake and related companies with the FREE Daily Email Newsletter at MarketBeat.com.