Evanson Asset Management LLC Decreases Holdings in Snowflake Inc. (NYSE:SNOW)

Evanson Asset Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,064 shares of the company’s stock after selling 150 shares during the quarter. Evanson Asset Management LLC’s holdings in Snowflake were worth $411,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Snowflake by 4.0% in the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after buying an additional 743,211 shares during the period. BlackRock Inc. grew its position in Snowflake by 5.0% during the 2nd quarter. BlackRock Inc. now owns 14,088,422 shares of the company’s stock valued at $2,479,280,000 after purchasing an additional 674,196 shares during the last quarter. FMR LLC grew its position in Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after purchasing an additional 1,496,235 shares during the last quarter. State Street Corp lifted its stake in Snowflake by 3.0% during the 2nd quarter. State Street Corp now owns 5,953,850 shares of the company’s stock valued at $1,047,759,000 after acquiring an additional 170,914 shares during the period. Finally, Norges Bank bought a new position in Snowflake during the 4th quarter valued at about $477,435,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SNOW. Stifel Nicolaus decreased their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research note on Thursday, February 29th. Wedbush boosted their price target on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Citigroup decreased their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $202.50.

Snowflake Stock Up 0.9 %

Shares of Snowflake stock traded up $1.39 during trading on Thursday, reaching $161.43. The company’s stock had a trading volume of 10,099,773 shares, compared to its average volume of 7,140,221. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72. The company has a market capitalization of $53.16 billion, a P/E ratio of -63.96 and a beta of 0.94. The business has a 50 day moving average price of $195.94 and a 200-day moving average price of $179.43.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.80% and a negative net margin of 29.79%. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Research analysts predict that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction 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 transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 3,800 shares of Snowflake stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $200.13, for a total value of $760,494.00. Following the completion of the sale, the executive now directly owns 102,007 shares of the company’s stock, valued at approximately $20,414,660.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,355 shares of company stock valued at $37,679,411. 8.30% of the stock is owned by 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.