Angeles Investment Advisors LLC Sells 694 Shares of Snowflake Inc. (NYSE:SNOW)

Angeles Investment Advisors LLC lowered its stake in Snowflake Inc. (NYSE:SNOW) by 19.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,819 shares of the company’s stock after selling 694 shares during the period. Angeles Investment Advisors LLC’s holdings in Snowflake were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SNOW. Dimensional Fund Advisors LP boosted its stake in shares of Snowflake by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after purchasing an additional 10,575 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Snowflake by 17.5% during the 4th quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock worth $19,460,000 after acquiring an additional 14,542 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Snowflake by 26.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock worth $940,000 after acquiring an additional 986 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Snowflake by 26.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 33,529 shares of the company’s stock worth $6,672,000 after acquiring an additional 7,033 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Snowflake by 67.5% in the 4th quarter. Quadrant Capital Group LLC now owns 355 shares of the company’s stock valued at $71,000 after purchasing an additional 143 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNOW. Macquarie reduced 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. Barclays reduced their target price on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of Snowflake in a research report on Monday, August 19th. UBS Group cut their price objective on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, TD Cowen decreased their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Two 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 company presently has an average rating of “Moderate Buy” and an average price target of $176.03.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 1,295 shares of Snowflake stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the transaction, the insider now owns 58,791 shares in the company, valued at approximately $7,360,045.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the sale, the insider now owns 58,791 shares in the company, valued at approximately $7,360,045.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,262 shares of company stock valued at $63,340,261. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Snowflake stock opened at $113.67 on Monday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a fifty day moving average of $123.48 and a 200 day moving average of $141.48. The stock has a market cap of $38.10 billion, a PE ratio of -40.60 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.52) EPS. As a group, sell-side analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

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.