Jeppson Wealth Management LLC Reduces Holdings in Snowflake Inc. (NYSE:SNOW)

Jeppson Wealth Management LLC trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,968 shares of the company’s stock after selling 90 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Snowflake were worth $401,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $278,000. Benjamin F. Edwards & Company Inc. increased its stake in Snowflake by 142.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $432,000 after buying an additional 1,277 shares during the period. Spire Wealth Management raised its position in Snowflake by 283.0% during the 4th quarter. Spire Wealth Management now owns 5,155 shares of the company’s stock worth $995,000 after buying an additional 3,809 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Snowflake by 32.9% in the 4th quarter. Private Advisor Group LLC now owns 20,324 shares of the company’s stock worth $4,045,000 after acquiring an additional 5,027 shares during the period. Finally, Lincoln National Corp boosted its holdings in shares of Snowflake by 9.3% in the fourth quarter. Lincoln National Corp now owns 2,625 shares of the company’s stock valued at $522,000 after acquiring an additional 223 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SNOW. Mizuho cut their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Sanford C. Bernstein increased their target price on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Macquarie decreased their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Bank of America cut their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their target price for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Snowflake Trading Up 0.1 %

Shares of Snowflake stock traded up $0.07 during trading hours on Friday, reaching $111.82. The stock had a trading volume of 271,161 shares, compared to its average volume of 6,631,624. The firm has a 50 day simple moving average of $127.10 and a two-hundred day simple moving average of $147.49. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of -39.90 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.93 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’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) EPS. Sell-side analysts forecast that Snowflake Inc. will post -2.42 EPS for the current year.

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at approximately $86,252,760. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The disclosure for this sale can be found here. Insiders have sold a total of 512,678 shares of company stock worth $63,434,135 in the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Company 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.