Sivia Capital Partners LLC Sells 23,400 Shares of Snowflake Inc. (NYSE:SNOW)

Sivia Capital Partners LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 54.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,316 shares of the company’s stock after selling 23,400 shares during the quarter. Snowflake comprises approximately 1.7% of Sivia Capital Partners LLC’s holdings, making the stock its 14th largest holding. Sivia Capital Partners LLC’s holdings in Snowflake were worth $2,609,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Accent Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $25,000. LRI Investments LLC boosted its stake in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC bought a new position in Snowflake during the second quarter valued at $27,000. Riverview Trust Co bought a new stake in shares of Snowflake in the 1st quarter worth about $31,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Snowflake in the 1st quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. DA Davidson cut their price target on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Loop Capital reduced their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Macquarie dropped their price objective on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Citigroup reduced their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lowered their target price on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Trading Down 2.9 %

Shares of SNOW stock opened at $108.56 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s fifty day simple moving average is $126.57 and its 200-day simple moving average is $146.64. The company has a market cap of $36.35 billion, a PE ratio of -38.77 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same period in the prior year, the company posted ($0.52) EPS. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now owns 718,773 shares of the company’s stock, valued at $86,252,760. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at $86,252,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 512,678 shares of company stock valued at $63,434,135. Insiders own 7.80% of the company’s stock.

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.