Means Investment CO. Inc. Reduces Holdings in Snowflake Inc. (NYSE:SNOW)

Means Investment CO. Inc. lessened its position in shares of Snowflake Inc. (NYSE:SNOW) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,830 shares of the company’s stock after selling 299 shares during the period. Means Investment CO. Inc.’s holdings in Snowflake were worth $1,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNOW. Park Avenue Securities LLC lifted its holdings in Snowflake by 0.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock worth $2,179,000 after purchasing an additional 70 shares in the last quarter. Covestor Ltd lifted its holdings in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares in the last quarter. IAM Advisory LLC lifted its holdings in Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock worth $600,000 after purchasing an additional 74 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its holdings in Snowflake by 2.6% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after purchasing an additional 75 shares in the last quarter. Finally, Modus Advisors LLC lifted its holdings in Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Wednesday, October 2nd. Loop Capital dropped their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Jefferies Financial Group decreased their target price on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird decreased their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Finally, Citigroup decreased 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.74.

Snowflake Stock Performance

SNOW opened at $119.54 on Friday. The stock has a market capitalization of $40.02 billion, a PE ratio of -42.69 and a beta of 0.83. The stock’s 50 day moving average price is $116.65 and its 200-day moving average price is $133.15. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the firm earned ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,049,994 over the last 90 days. 7.80% of the stock is 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.