Snowflake Inc. (NYSE:SNOW) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 94.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,236 shares of the company’s stock after selling 73,521 shares during the quarter. Virtu Financial LLC’s holdings in Snowflake were worth $843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FinTrust Capital Advisors LLC lifted its holdings in Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Provence Wealth Management Group acquired a new stake in Snowflake during the third quarter worth approximately $30,000. M&R Capital Management Inc. grew its stake in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares during the period. Parkside Financial Bank & Trust raised its holdings in Snowflake by 34.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Snowflake by 320.0% during the 4th quarter. Quarry LP now owns 210 shares of the company’s stock worth $42,000 after purchasing an additional 160 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNOW. Mizuho reduced their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JMP Securities restated a “market outperform” rating and issued a $235.00 target price on shares of Snowflake in a report on Tuesday, June 4th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Truist Financial lowered their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Snowflake in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $198.92.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total transaction of $70,608.72. Following the completion of the transaction, the executive vice president now directly owns 756,489 shares in the company, valued at $97,829,157.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the sale, the executive vice president now directly owns 756,489 shares in the company, valued at $97,829,157.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares in the company, valued at $4,457,133.14. The disclosure for this sale can be found here. Insiders have sold a total of 82,277 shares of company stock worth $12,545,775 in the last ninety days. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

Shares of NYSE:SNOW traded up $1.27 during trading on Friday, reaching $127.17. 6,820,093 shares of the company’s stock traded hands, compared to its average volume of 8,209,907. The company has a 50 day moving average of $150.51 and a 200-day moving average of $177.32. Snowflake Inc. has a 12 month low of $124.69 and a 12 month high of $237.72. The stock has a market capitalization of $42.58 billion, a P/E ratio of -45.42 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Equities research analysts predict that Snowflake Inc. will post -2.27 earnings per share for the current fiscal year.

Snowflake Profile

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.