CMH Wealth Management LLC Trims Stake in Snowflake Inc. (NYSE:SNOW)

CMH Wealth Management LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 4.4% in the first quarter, Holdings Channel reports. The institutional investor owned 41,467 shares of the company’s stock after selling 1,913 shares during the period. Snowflake comprises about 1.7% of CMH Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. CMH Wealth Management LLC’s holdings in Snowflake were worth $6,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anderson Hoagland & Co. increased its stake in Snowflake by 47.2% in the 1st quarter. Anderson Hoagland & Co. now owns 18,583 shares of the company’s stock worth $2,843,000 after buying an additional 5,957 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Snowflake by 318.1% in the 1st quarter. Ballentine Partners LLC now owns 7,518 shares of the company’s stock valued at $1,215,000 after buying an additional 5,720 shares in the last quarter. Werlinich Asset Management LLC bought a new stake in shares of Snowflake in the 1st quarter valued at about $229,000. Gulf International Bank UK Ltd boosted its holdings in shares of Snowflake by 0.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 24,499 shares of the company’s stock valued at $3,959,000 after buying an additional 99 shares in the last quarter. Finally, RFG Advisory LLC boosted its holdings in shares of Snowflake by 9.3% in the 1st quarter. RFG Advisory LLC now owns 2,385 shares of the company’s stock valued at $385,000 after buying an additional 202 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Bank of America reiterated a “neutral” rating and issued a $200.00 target price on shares of Snowflake in a research note on Wednesday, June 12th. Canaccord Genuity Group lowered their target price on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Loop Capital lowered their target price on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their price target on shares of Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating 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 issued a buy rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $198.64.

Snowflake Stock Performance

Snowflake stock traded down $2.98 during midday trading on Monday, reaching $124.82. The company’s stock had a trading volume of 6,851,793 shares, compared to its average volume of 6,549,832. Snowflake Inc. has a fifty-two week low of $124.40 and a fifty-two week high of $237.72. The stock’s 50 day simple moving average is $147.15 and its 200 day simple moving average is $174.84. The firm has a market capitalization of $41.79 billion, a PE ratio of -44.58 and a beta of 0.85.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,476 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.47, for a total value of $189,621.72. Following the completion of the sale, the director now owns 230,527 shares of the company’s stock, valued at $29,615,803.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Frank Slootman sold 1,476 shares of Snowflake stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.47, for a total transaction of $189,621.72. Following the completion of the transaction, the director now owns 230,527 shares of the company’s stock, valued at approximately $29,615,803.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,862 shares of company stock valued at $5,895,712. 7.80% of the stock is owned by company 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.