Blue Fin Capital Inc. Cuts Holdings in Snowflake Inc. (NYSE:SNOW)

Blue Fin Capital Inc. cut its holdings in Snowflake Inc. (NYSE:SNOW) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,352 shares of the company’s stock after selling 532 shares during the quarter. Blue Fin Capital Inc.’s holdings in Snowflake were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Commonwealth Equity Services LLC increased its holdings in Snowflake by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after buying an additional 3,124 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Snowflake by 28.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after purchasing an additional 19,745 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Snowflake by 139.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock worth $736,000 after purchasing an additional 2,809 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in Snowflake during the third quarter worth $398,000. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $254,942,000 after purchasing an additional 79,825 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays decreased their price objective on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Oppenheimer reduced their target price on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, Truist Financial reduced their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Stock Performance

Snowflake stock traded up $1.55 during trading on Friday, reaching $159.32. 3,660,233 shares of the company’s stock were exchanged, compared to its average volume of 4,335,201. The company’s 50-day moving average is $163.20 and its two-hundred day moving average is $178.80. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The firm has a market cap of $53.24 billion, a price-to-earnings ratio of -62.48 and a beta of 0.90.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the senior vice president now directly owns 736,567 shares in the company, valued at approximately $162,044,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders sold 168,458 shares of company stock valued at $33,785,640 over the last 90 days. 8.30% of the stock is owned by corporate 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.